You are saving for a Porsche Carrera Cabriolet, which currently seils for nearly half a million dollars. Your plan is to deposit $$48,000$ at the end of each year for the next $7$ years. You expect to earn $10$ percent each year.

Required:

Determine how much you will have saved after $7$ years.

Determine the amount saved if you were able to deposit $$53,000$ each year.

Determine the amount saved if you deposit $$48,000$ 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 $2$

Required $3$

Determine how much you will have saved after $7$ years.

Note: Round your final answer to the nearest whole dollar.

Balance in the Savings Account