You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $15,000 at the end of each year for the next 10 years. You expect to earn 8 percent each year.

Required:

1.)

Determine how much you will have saved after 10 years.

2.)

Determine the amount saved if you were able to deposit $17,500 each year.

3.)

Determine the amount saved if you deposit $15,000 each year, but with 10 percent interest.

(Future Value of $1,Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.)

Note: Use appropriate factor(s) from the tables provided.