You want to buy a small yacht in 8 years. The yacht's price now is $115,000 but is increasing at a 4 percent rate per year. How much money would you have to put into an investment today (lump sum) that is expected to earn 14% per year if you wanted to be able to afford the yacht in 8 years? A. $40.314 8. $45 882 C$51.227 D. $55,173 E $59.368

Yoa want to boy a small vacht in 8 years. The yacht's price now is $115,000 but is increasing at a 4 pesent rate per year, How much money would you have to put into an investment today (lump sum) that is expected to earn 14\%, per year if you wanted to be able to afford the yacht in 8 years? A. 40314 e.sisiar cos1227 0.35,173 655738 Yoa want to boy a small vacht in 8 years. The yacht's price now is $115,000 but is increasing at a 4 pesent rate per year, How much money would you have to put into an investment today (lump sum) that is expected to earn 14\%, per year if you wanted to be able to afford the yacht in 8 years? A. 40314 e.sisiar cos1227 0.35,173 655738