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a. If you drive 40,000 miles per year, what is total annual expense for this car? b. If the total annual expense for this car
a. If you drive 40,000 miles per year, what is total annual expense for this car? b. If the total annual expense for this car is deposited at the end of each year into an IRA paying 8.5% compounded yearly, how much will be saved at the end of four years? Use the formula A=(nr)P[(1+nr)nt1] a. If you drive 40,000 miles per year, the total annual expense for this car is $ (Round to the nearest dollar as needed.) b. If the total annual expense for this car is deposited at the end of each year into an IRA paying 8.5% compounded yearly, the amount saved at the end of four years is $. (Round to the nearest dollar as needed.)
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