You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $33,000 at the end of each year for the next 9 years. You expect to earn 12 percent each year.
Required:
Determine how much you will have saved after 9 years.
Determine the amount saved if you were able to deposit $35,000 each year.
Determine the amount saved if you deposit $33,000 each year, but with 14 percent interest.
(Future Value of $1,Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.)