You want to buy a jet ski 5 years from now, and you plan to save $600 per year, beginning today. you will deposit your savings in an account

Question

You want to buy a jet ski 5 years from now, and you plan to save $600 per year, beginning today. you will deposit your savings in an account that pays 8% interest. how much will you have 5 years from now?

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    2021-09-10T17:04:59+00:00

    600(1+0.08/5)^5=649560.3
    The valur of Rs 600will decline to 649560.3in 5 years interest is 8%

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