You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $$31,100$ at the end of each year for the next $9$ years. You expect to earn $13$ percent each year.

Required:

Determine how much you will have saved after $9$ years.

Determine the amount saved if you were able to deposit $$33,600$ each year.

Determine the amount saved if you deposit $$31,100$ each year, but with $15$ 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 $1$

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