Problem - Claire wants to buy a car when she graduates from North State University 5 years from now. She believes that she will need $30,100 to buy the car.
(a) Calculate how much money Claire must put into her savings account today to have $30,100 in 5 years, assuming she can earn 10% compounded annually.
(b) Calculate how much money Claire must put into her savings account today to have $30,100 in 5 years, assuming she can earn 10% compounded semi-annually.
Attachment:- Assignment.rar