You want to buy a new car in five years.You want to have saved $25,000 by then.You can invest $4,000 at the end of each of the next five years at an interest rate of 6% compounded annually.Will you have enough money at the end of the fifth year?
A)No.You are short $2,452.
B)Yes.You have $1,532 more than you need.
C)No.You are short $1,532.
D)Yes.You have $2,452 more than you neeD.
E)none of these

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The Answer of You want to buy a new car in five years.You want to have saved $25,000 by then.You can invest $4,000 at the end of each of the next five years at an interest rate of 6% compounded annually.Will you have enough money at the end of the fifth year?
A)No.You are short $2,452.
B)Yes.You have $1,532 more than you need.
C)No.You are short $1,532.
D)Yes.You have $2,452 more than you neeD.
E)none of these

You Want to Buy a New Car in Five Years