John Cabot is saving for a new car the costs $50 000 How many dollars should he set aside now to have 550 000 in 7 years assuming that money compounds at 4 annually Present Value Interest Factors Period 24 49 6 196 10 12 15 20 1 2 4 S 6 7 8 9 10 31 12 13 14 15 16 17 18 19 20 9201 9612 9423 92 18 ,9057 SO 8706 8535 8363 8203 8043 7885 7730 7579 7430 7284 7142 7002 6864 6730 9615 9246 BE B548 8319 7903 7599 7307 7026 6756 6496 6246 6006 5775 5553 5339 5134 4936 4746 4564 943 8900 2396 7921 7473 7050 6651 6274 5919 5584 5268 4970 4688 4423 4173 3936 3714 3503 3305 3118 9259 857a 7938 7350 6806 6302 5835 5403 5002 A632 A289 3971 3677 3405 3152 2919 2703 2502 2317 2145 9091 8264 7513 6830 6209 5645 5132 14665 4241 3855 3505 3186 2897 2633 2394 2176 1978 1799 1635 8929 7972 7119 6355 5674 5066 A523 4039 3606 3220 2875 2567 2292 2046 1827 1631 1456 1300 1161 0037 BG9G 3561 $575 5218 4972 A323 3759 3269 2843 2472 2149 1869 1625 1413 1229 1069 0929 DAOB 0703 0611 8333 6944 5787 A823 4019 3349 2791 2336 1938 1615 1346 1122 0935 0779 0649 0541 0451 0376 0313 0261 1486 Select one a, 36,435 b 37 995 c 36 635 d 37 535 e None of the above

Question

John Cabot is saving for a new car the costs $50 000  How many dollars should he set aside now to have 550 000 in 7 years assuming that money compounds at 4  annually  Present Value Interest Factors Period 24 49 6 196 10  12  15 20  1 2 4 S 6 7 8 9 10 31 12 13 14 15 16 17 18 19 20  9201 9612 9423  92 18 ,9057 SO  8706  8535 8363  8203  8043  7885 7730  7579 7430 7284 7142 7002 6864  6730  9615 9246 BE  B548 8319  7903  7599  7307  7026 6756  6496 6246  6006  5775  5553  5339 5134  4936  4746 4564 943 8900 2396 7921 7473 7050 6651 6274 5919 5584 5268 4970 4688 4423 4173 3936 3714 3503 3305 3118 9259 857a 7938 7350 6806 6302 5835 5403 5002 A632 A289 3971 3677 3405 3152 2919 2703 2502 2317 2145  9091 8264 7513  6830 6209 5645 5132 14665 4241 3855  3505 3186 2897 2633 2394 2176  1978  1799  1635 8929 7972 7119 6355 5674 5066 A523 4039 3606 3220 2875 2567 2292 2046  1827 1631 1456 1300 1161 0037 BG9G 3561 $575 5218 4972 A323 3759 3269 2843 2472 2149 1869  1625  1413  1229  1069 0929 DAOB 0703 0611 8333 6944 5787 A823 4019 3349 2791  2336  1938  1615  1346  1122 0935 0779 0649 0541  0451 0376  0313 0261  1486 Select one  a, 36,435 b  37 995 c  36 635 d  37 535 e  None of the above

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John Cabot is saving for a new car the costs $50.000. How many dollars should he set aside now to have 550.000 in 7 years

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