QUESTION 1

A car will cost you $50,000 three years from now. You have deposited $8,000 @ 6% interest annually. Your aunt will pay for the rest. How much would your aunt pay for the car three years later? (hint: pmt=8000, and find out how much you would have three years later from your account. The remaining would be paid by your aunt) $25489 $24531 $30913 $27812