Question
If Harry doesn't buy the Porsche and saves $399 per week, you worked out (in the previous question) how much this amount would grow to
If Harry doesn't buy the Porsche and saves $399 per week, you worked out (in the previous question) how much this amount would grow to if he invested it each week. If he purchased the Porsche, not only would he have to make weekly payments, he would have to pay off the balance at the end of five years. If he put this lump sum amount on top of his savings (worked out in the previous question) and invested for a further five years at 5% p.a. (annual compounding), how much will he have at the end of that time?
Select one:
a. $275,611
b. $295,826
c. $208,104
d. $168,009
e. $122,312
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