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Interest rate is 4.3% Akash has recently graduated from community college. He has just started his career and has established several financial goals. Two of
Interest rate is 4.3%
Akash has recently graduated from community college. He has just started his career and has established several financial goals. Two of his most important financial goals involve buying a car and buying a house. He would like to save enough money to buy a used car in 2 years and is in the research stage of buying a house. Part A Saving to Buy a Car in 2 Years (you can either use the formula or the TVM solver to show your answer) 2.What price of car will he be able to afford if he increases his deposits to $450 per month but the interest rate remains the same? Insert (Show) your answer N= 1% = PV = PMT= FV= PY CY PMT: END BEGIN 3.What price of car will he be able to afford if his deposits remain at $400 per month, but he finds an investment that pays 5% compounded monthly? Insert (Show) your answer N= 1% = PV = PMT= FV P/Y= C/Y= PMT: END BEGIN Step by Step Solution
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