I am one hell of a confused guy when it comes to math. Well here is this problem I'm trying to figure out and I am supposed to explain it well, but I'm way too stuck to begin. Even if I knew how to start, I just seem to not understand. Anyways, here is the problem:
I am planning to buy a 2007 Audi A8 car that costs approximately $13,000 (just made up). There are a lot of ways to get enough money to buy the Audi (you only have $1000 in your piggy bank). Here are the ways:
1) A traditional loan
2) Putting $1000 into a savings account and letting interest happen until you've got enough money
3) Putting $1000 into some other type of investment account and letting interest happen until we've got enough money
4) Putting $1000 into an account and letting interest happen but also putting another $50 into the account each month.
Okay it then tells me to visit a homepage of a bank and find two investment options that I'm interested in (Huh?).
Then determine how long it will take me to save up the amount of money that I need.
The final question is which of the ways is the best that will get to the amount of money I need to buy the car.
I know right, tough!!! Please help!!! Thank you, Math Help Forum members.