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please help me with 1 and 1.a I am having a hard time understanding thank you 1.a Steve created a savings account with an initial
please help me with 1 and 1.a I am having a hard time understanding thank you 1.a Steve created a savings account with an initial deposit of $1700 and the intention of making a $1400 deposit every 2 years (end of the year) afterwards. He planned to withdraw all money at the end of year 7 to afford a car. The interest rate on the savings account is 2%. Unfortunately, Steve was only able to deposit $ 500 at the end of year 6 instead of $1400. Question 1 What is the maximum price Steve can afford to buy the car at the end of year 7? If Steve had known that he would only make the deposit of $500 at the end of year 6, how much MORE money should he have deposited when he created the saving account to match the original plan (in which Steve would have been able to deposit $ at the end of year 2)
please help me with 1 and 1.a I am having a hard time understanding thank you
1.a
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