Mu$$strame c$$mo resolver Time value Personal Finance Problem$$As part of your financial$$ planning, you wish to purchase a new car exactly $7$ years from today. The car you wish to purchase costs $$$$20$ comma $000$today$,$ and your research indicates that its price will increase by $4\%$ to $8\%$ per year over the next $7$ years.

a$.$Estimate the price of the car at the end of $7$ years if inflation is$(1)4\%$ per year and$(2)8\%$ per year.

b$.$How much more expensive will the car be if the rate of inflation is $8\%$ rather than $4\%?$

c$.$Estimate the price of the car if inflation is $4\%$ for the next $3$ years and $8\%$ for $4$ years after that.