You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $$36,000$ at

the end of each year for the next $8$ years. You expect to earn $12$ percent each year.

Required:

Determine how much you will have saved after $8$ years.

Determine the amount saved if you were able to deposit $$38,000$ each year.

Determine the amount saved if you deposit $$36,000$ 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.

Determine how much you will have saved after $8$ years.

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

Balance in the Savings Account