John wants to buy a car. He believes that the car price will increase by three percent per year and it will sell for $42,677.59 when he is ready to buy it. John can save $5,000 at the end of each year until he buys the car. John can earn 14 percent annually on his savings until he buys the car.

1.In how many years will John have enough money saved to buy the car?

2.What is the price of the car today?