A marketing company established a program to replace the cars of its sales representatives at the end of every 7 years. The present price of the approved type of car is P532,854. Under this inflationary economy, the approximate average inflation for 4 years is 3.238% and for the following years is 5.118%.

21. What is the appropriate future cost of the car after 7 years?

22. If you have P520,000 invested in a bank offering 8.854% interest rate and plan to buy the car after 7 years, how much is your money worth after 7 years?