Business, 11.03.2020 03:12 saneayahsimmons

A spender UCF graduate likes the prestige of a Lexus IS 250. Saver UCF graduate drives a Corolla. The internet previously showed that the five year cost of owning a 2010 Lexus IS 250 is $42,814 while the five year cost of owning a 2010 Corolla is $24,607, an $18,207 difference over five years. On an annual basis, this would equate to the Lexus costing $3,641.40 more per year. Assume our UCF saver invests the savings of $3,641.40 per year (end of the year) for 40 years and earns 1 1% per year (interest compounded annually). How much will the saver have in his/her retirement account as a result of driving lower cost cars throughout his/her lifetime? a. $451,063.73.b. $2,351,714.20.c. $23,975,813.49.d. $231,987.38.e. $2,118,661.44.

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A spender UCF graduate likes the prestige of a Lexus IS 250. Saver UCF graduate drives a Corolla. Th...

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