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You are saving for a Porsche Carrera Cabriolet, which currently sells for nearty half a million dollars. Your plan is to deposit $61,000 at the
You are saving for a Porsche Carrera Cabriolet, which currently sells for nearty half a million dollars. Your plan is to deposit $61,000 at the end of each year for the next 6 years. You expect to eam 11 percent each year Required: . Determine how much you will have saved after 6 years. (Future Value of S1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factorls) from the tables provided. Round your final answer to 2 decimal places.) e in the 2. Determine the amount saved if you were able to deposit $64,000 each year. (Future Value of $1. Present Value of $1, Future Value Annuity of S1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places.) e in the 3. Determine the amount saved if you deposit $61,000 each year, but with 13 percent interest. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places.) n the Savings Account
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