You'd like to buy a hot air balloon, and you can save $500 a month to buy a car in 6 years. The balloon will probably last about 10 years. Maintaining the balloon will cost $200 at the end of the first year of owning it and will increase by $50 per year. To save money, you don't do any maintenance payment during the 10th year. A 7% interest rate, compounded monthly, applies over the next 14 years. What is the maximum price for a hot air balloon that you can afford? Solve by hand using formulas and tables. You'd like to buy a hot air balloon, and you can save $500 a month to buy a car in 6 years. The balloon will probably last about 10 years. Maintaining the balloon will cost $200 at the end of the first year of owning it and will increase by $50 per year. To save money, you don't do any maintenance payment during the 10th year. A 7% interest rate, compounded monthly, applies over the next 14 years. What is the maximum price for a hot air balloon that you can afford? Solve by hand using formulas and tables