You want to accumulate $20,000 to pay for a new car. You would like to have the amount available on December 31, 2017. Assume that the funds will accumulate earning 7% interest compounded annually. If you were to invest a single amount, how much would you have to invest on December 31, 2013(

Consider the following independent situations and answer the questions using the time

value of money tables and formulas (round to the nearest dollar, if necessary):show all work