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Tyrone wants to spend $15,000 on a new car three years from now. He opens a savings account and deposits $3,250 today. One year from
Tyrone wants to spend $15,000 on a new car three years from now. He opens a savings account and deposits $3,250 today. One year from now, he plans to deposit $3,000 in the account, and one year after that, he plans to deposit another $3,000. If the account earns 6% interest per year, how much additional money will Tyrone need to meet his $15,000 goal?
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