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Question: As part of your financial planning, you wish to purchase a new car exactly 6years from today. The car you wish to purchase costs $17, 000 today, and your research indicates that its price will increase by 3% to 6% per year over the next 6years.

A. Estimate the price of the car at the end of 6 years if inflation is?

(1) 3% per year and?

(2) 6% per year.

B. How much more expensive will the car be if the rate of inflation is 6?% rather than 3?%?

C. Estimate the price of the car if inflation is 3% for the next 2years and 6% for 4years after that. A. The price of the car at the end of 6 years, if inflation is 3%

per? year, is $______ ?(Round to the nearest? cent.)

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