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You want to buy a Datsun 300ZX on your 27th birthday. You have priced these cars and found that they currently sell for $25,000. You
You want to buy a Datsun 300ZX on your 27th birthday. You have priced these cars and found that they currently sell for $25,000. You believe that the price will increase by 10% per year until you are ready to buy. You can presently invest to earn 14% annually. If you have just turned 20 years old, how much must you invest per year to be able to purchase the Datsun in 7 years?
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