You would like to buy a Mercedes Benz Class A. You have about $20,000 but the car costs $55,000. If you can earn 3% per annum, how much do you have to invest (today) to buy the car in 2 years? Assume the car price stays the same.

a.You are about $35,000 short. b.You are about $31,842.78 short, even if you are willing to wait 2 years. c.None of the other answers are true. d.You are about $33,782 short, even if you are willing to wait 2 years.