13. How much would you have to invest today at 8% compounded annually to have $25,000 available for the purchase of a car four years from now? A) $18,267.26 B) $18,375.75 C) $19,147.25 D) $21,370.10 E) $22,149.57 14. You need $2,000 to buy a new stereo for your car. If you have $800 to invest at 5% compounded annually, how long will you have to wait to buy the stereo? A) 6.58 years B) 8.42 years C) 14.58 years D) 15.75 years E) 18.78 years 15. In 1889, Vincent Van Gogh”s painting, “Sunflowers”, sold for $125.
13. How much would you have to invest today at 8% compounded annually to have $25,000 available for the purchase of a car four years from now?
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