ONLINE RESOURCES RESOURCES RESOUR You just started this MHA You are looking forward to the day that you are done and gainfully employed. You really liked this new Honda Accord that just came out (because one of your professors used to work for Honda). Today the cost of that car is $32,000. You are smart and you know you need to put money away today - so that in FIVE years, you can purchase it. You are going to put your money away in index fund that will earn 7% interest Annual inflation is expected to be 32%. How much money do you need to invest today to be able to afford that car? Select one or more a. $32,000.00 b. $10,000.50 $65,000 00 $26,707.27 F12 0 You listened to Justin's lecture and you decided that you want to put $50,000 you have in savings today into a retirement account. The account will have an average annual return of 8%. You are currently 30 years old. You will need these funds when you retire at age 65 (35 years from now). How much money will that be? Select one or more a $50,000.00 b. $800,000.51 c. $739,267 21 d. Who cares -I am buying that boat! (Hint - this is a wrong answer) Next page DOLL F10 F9 F8 F7 F6 F5 8 5