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You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to depos $31,000 at
You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to depos $31,000 at the end of each year for the next 9 years. You expect to earn 12 percent each year. Required: 1. Determine how much you will have saved after 9 years. 2. Determine the amount saved if you were able to deposit $33,800 each year. 3. Determine the amount saved if you deposit $31,000 each year, but with 14 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine how much you will have saved after 9 years. Note: Round your final answer to the nearest whole dollar. Balance in the Savings Account 458,045,345
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