Patweetytaw
Feb 22, 2011, 05:16 PM
You want to buy a car 5 years from now, and you can save $3,100 per year, beginning one year from today. You plan to deposit the funds in a mutual fund which you expect to return 8.5% per year. Under these condisitons, how much will you have just after you make the 5th deposit, 5 years from now.