Bill wants to buy a new car in three years from now. He expects that the price of a car will be $15 000 in three years. How much money should Bill put in his savings account now if a bank pays 5% interest rate on this account?
A)$11 629
B)$12 104
C)$12 958
D)$13 465
E)$14 286

Question

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The Answer of Bill wants to buy a new car in three years from now. He expects that the price of a car will be $15 000 in three years. How much money should Bill put in his savings account now if a bank pays 5% interest rate on this account?
A)$11 629
B)$12 104
C)$12 958
D)$13 465
E)$14 286

Bill Wants to Buy a New Car in Three Years