As a part of your financial planning, you wish to purchase a new car exactly 5 years from today. The car you wish to purchase costs $14,000 today and your research indicates that its price will increase by 2% to 4% per year over the next 5 years.

(A) Estimate the price of the car at the end of 5 years if inflation is (A) 2%

(B) 4% per year

(B) How much more expensive will the car be if the rate of inflation is 4% rather than