you want to go to Europe 5 years from now, and you can save $3100 year beginning from today. you plan to deposit the funds in mutual fund which expect to return 8.5% per year. under the conditions how much will you have just after you make the 5th deposit 5 years from now?

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.