A married couple is planning to pay a new sport utility vehicle 6 years from now. They expect cost $25,000 at the time of purchase. If they want to have 1/4 of the cost for a down payment, how much must they save each year if they can earn 10% per year on their savings?

A married couple is planning to pay a new sport utility vehicle 6 years from now. They expect cost $25,000 at the time of purchase. If they want to have 1/4 of the cost for a down payment, how much must they save each year if they can earn 10% per year on their savings?

A married couple is planning to pay a new sport utility vehicle 6 years from now. They expect cost $25,000 at the time of purchase. If they want to have 1/4 of the cost for a down payment, how much must they save each year if they can earn 10% per year on their savings?