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(Compounding using a calculator) Bart Simpson, age 10, wants to be able to buy a really cool riew car whon he tums 18 . His
(Compounding using a calculator) Bart Simpson, age 10, wants to be able to buy a really cool riew car whon he tums 18 . His tealy cool car costs $18.000 tocay, and its cost is expected to increase 3 percent annually. Bart wants to make one deposit today (he can sell his mint-conditon ofiginal Miclear Boy comic book) into an account paying 8 percent annunlly in order to buy his car in 8 years. How much will Barf's car cost, and how much does Bart have to save today in order to buy this car at age 18 ? a. How much will Barts cat cost after B years? (Round to the neareet cent.) b. How much does Bart have to save today in order to buy this car at age 18? (Round to the nearest cent)
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