TSA 2011 · Question 20 · Rates
SaveThe table below, from a newspaper, shows how much money (1000 today, depending on the annual rate of inflation.[image of table] Raoul has just bought a new car for 10 000 into a bank account ready to pay for the next car. The price of cars rises with inflation at 8% and his savings only earn interest of 6%.

How much will he need to add to his savings when he needs to buy his new car?