You recently got promoted at your job. You have since decided to buy your dream car and expect that it will cost you $93,000 seven years from today. After budgeting your expenses, you decide that you can save $9,000 per year at the end 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?

with financial calculator