1. You recently got promoted at your job. You have since decided to buy your dream car and expect that it will cost you $94,000 seven years from today. After budgeting your expenses, you find you can start with $5000 today, and decide that you can save $5000 per year at the beginning of each year. Given a market interest rate of 13%, will you be able to purchase your car at the end of year 7? Would you be able to afford it one year later?

using financial calculator