You plan to pay $38,000 cash for the new truck you want to buy 5 years from

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You plan to pay $38,000 cash for the new truck you want to buy 5 years from now. You are a very astute investor; all your money earns at 20% per year. If you have already saved $9500, the amount your rich aunt has to give you 2 years from now (as a graduation present) in order for you to have the total amount of $38,000 is closest to:

(a) <$7500

(b) $7654

(c) $8,310

(d) $9,880

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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