Refer back to given Problem. Members of the Go-Kart Klub do not wish to wait for more than five years to build their clubhouse. They have decided to start a fimdraisina: campaign to increase their ability to save each year between €7000 and whatever is necessary to have €5 0 000 saved in five years.
Construct a table and a graph that illustrate how the number of years they must wait depends on the amount they save each year. What additional funds per year will allow them to save €5 0 000 in five years? Use a 10% interest rate.
Problem:
The Hanover Go-Kart Klub has decided to build a clubhouse and track several years from now. The club needs to accumulate €5 0 000 by setting aside a uniform amount at the end of even" year. The y believe it is possible to set aside €700 0 even" year at 10% interest. They wish to know how many years it is will take to save €5 0 000 and how sensitive this result is to a 5% and a 10% increase or decrease in the amount saved per year and in the interest rate. Construct a sensitivity graph to illustrate the situation.