A Young Graduate Is Planning On Saving 724 00 Each Quarter For Four Years In An

A young graduate is planning on saving $724.00 each quarter for four years in an investment account paying 13.40% interest that is compounded quarterly. His first deposit will be made at the end of the next quarter, so this is a regular annuity. In 4 years, he also plans on being able to afford a 60-month car loan with $340.00 monthly payments at a 13.08% APR interest rate. Given the graduate’s plans, how expensive of a “dream car” will he expect to be able to purchase in four years?

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