A new car costs you $16 000 to buy today. The cost of a new car is expected to rise by 7.5% per year over the next five years. At this rate, how much will the new car cost you in five years time? A $3000 savings bond is purchased during a recent provincial campaign. The interest rate increases every year according to this table. The interest is paid annually and added to the principal invested in the bond. Year Interest Rate (%) 1 4.1 2 4.4 3 4.8 4 5.3 5 5.7 What is the value of the bond at the end of year 3? A $3000 savings bond is purchased during a recent provincial campaign. The interest rate increases every year according to this table. The interest is paid annually and added to the principal invested in the bond. Year Interest Rate (%) 1 4.1 2 4.4 3 4.8 4 5.3 5 5.7 What is the value of the bond at the end of the five-year term? The newspaper reports that the annual inflation rate was 3.2%. If the inflation rate stays the same for the next five years, how much do you expect $1000.00 worth of goods to cost in five years? An investment fund pays 9% per year, compounded quarterly, on all money invested. How much must be invested now to have $10 000 when it is needed six years from now? An investment fund pays 12% per year, compounded monthly, on all money invested. How much must be invested now to have $6000 when it is needed four years from now?