1. You want to buy a Toyota Prius on your 27th birthday. You have priced these cars and found that they currently sell for $30,000. You believe that the price will increase to $36,000 in seven years when you are ready to buy. You can presently invest to earn 9 percent. If you just turned 20 years old, how much must you save at the end of each of the next 7 years to be able to purchase the Toyota Prius in 7 years? (show your work and justify your answer.)