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Tesla's Model 3 is currently priced at $35,000. The price is expected to rise by 3% a year. If your local bank offers 10% interest

Tesla's Model 3 is currently priced at $35,000. The price is expected to rise by 3% a year. If your local bank offers 10% interest on your deposit, how much do you need to put aside today to buy the car 5 years (n=5) from now?

A. $40,574.6 B. $25,193.6 C. $29,367.8 D. $35,000

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