a$.$ Estimate the price of the car at the end of $8$ years if inflation is $(1)3\%$ per year and $(2)6\%$ per year.

b$.$ How much more expensive will the car be if the rate of inflation is $6\%$ rather than $3\%?$

c$.$ Estimate the price of the car if inflation is $3\%$ for the next $3$ years and $6\%$ for $5$ years after that.

a$.$ The price of the car at the end of $8$ years, if inflation is $3\%$ per year, is $ $($Round to the nearest cent.$)$

The price of the car at the end of $8$ years, if inflation is $6\%$ per year, is $$,($Round to the nearest cent.$)$

b$.$ At the higher rate of inflation, the car is more expensive by $q.($Round to the nearest cent.$)$

c$.$ The price of the car at the end of $8$ years, if inflation is $3\%$ for the next $3$ years and $6\%$ for $5$ years after that, is

$($Round to the nearest cent.$)$Time value Personal Finance Problem$$As part of your financial$$ planning, you wish to purchase a new car $8$ years from today. The car you wish to purchase costs $$$$20$ comma $000$today$,$ and your research indicates that its price will increase by $3\%$ to $6\%$ per year over the next $8$ years.

a$.$Estimate the price of the car at the end of $8$ years if inflation is$(1)3\%$ per year and$(2)6\%$ per year.

b$.$How much more expensive will the car be if the rate of inflation is $6\%$ rather than $3\%?$

c$.$Estimate the price of the car if inflation is $3\%$ for the next $3$ years and $6\%$ for $5$ years after that.