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5. Saving Strategies Tanya wants to open her own pet-grooming business after she graduates from high school. However, after doing research, she realizes that she needs to save $18,000 for the start-up capital for her business. Tanya plans to make a series of deposits of $3,000 every year for five years. She estimates that she'll earn an annual interest rate of 5 percent on her savings.

Calculate Using the tables in Figure 1.4, calculate what amount Tanya will have available in five years to start her business. How much more money will she need to save?

SOLVING MONEY PROBLEMS

USING MATH SKILLS