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answer both pls 2 pts Polly, your client, wants to buy a new car for her grandson James when he turns 40. Today is September
answer both pls
2 pts Polly, your client, wants to buy a new car for her grandson James when he turns 40. Today is September 8, 2021 and James turns 40 on September 5, 2028. Polly knows that James loves the new Chevy Corvette, but he'd never buy it because he is a bit of a "cheap skate." She is eyeing an new 251 model currently priced at $126,950 including taxes and fees. Polly already has saved $25,000 into an account she plans to use to pay cash for the car. If Polly earns 7% interest, how much does Polly need to save each month to get to her goal to pay cash for the car? (answer with a positive number, rounded to the nearest dollar) 2 JLS Walter and his business partner, Jesse, have developed a new candy that is a craze with all the kids in town. It has a real "kick" according to the local candy distributor, Tuco. Each month Walter and Jesse take in $20,000 each in income from their modern version of the blue pop rock like candy. Walter has the great idea to buy a local car wash as a way to diversify his investments. He has determined the car wash will cost $500,000 in today's dollars. He expects this number to inflate by 3% each year until he can buy it in 4 years. How much will Walter need to have 4 years from now to buy the car wash including inflation (Answer with a positive number, round to the nearest dollar) Step by Step Solution
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