1. Mr. Elite invests $120,000 in an old Classic Rolls-Royce. He expects the car to increase in value 12 percent per year for the next five years. How much will his car be worth after five years? [Hint: Draw a timeline, use an appropriate formula, and provide all calculations necessary to support your answer. You must put the value for each component in the formula, then calculate manually or using simple/scientific/financial calculator.][2.5 points]