Reuben would like to buy sports car that cost $35,000 today when he graduates from college in five years if the rate of information is expected to be 3% per year over the next five years how much wood Ruben expect to pay for a similar sports car in today's dollars

Step-by-step explanation:

Amount he will pay in the next five years = Principal + Interest

Given Principal =  $35,000

Simple Interest = PRT/100

R is the rate = 3%

T is the time in years = 5years

SI = 35,000 * 3 * 5/100

SI =  $5,250

Amount =  $35,000  +  $5,250

Amount =  $40,250

Ruben will have to pay $40,250 after 5years

ou would have 12 of each

60%