You want to buy a Toyota Prius on your 27th birthday

Accounting May 01, 2022

You want to buy a Toyota Prius on your 27th birthday. You have priced these
cars and found that they currently sell for $30,000. You believe that the price
will increase to $37.000 in seven years when you are ready to buy. You can
presently invest to earn 10 percent. If you just turned 20 years old, how much
must you save at the end of each of the next 7 years to be able to purchase
the Toyota Prius in 7 years? (show your work and justify your answer.)