Needs vs Wants- Quiz 2

This is not a repeat, it's a different member that needs some work on being able to tell the difference between "needs and wants":


Just found out that this member is thinking about buying new tires and rims( big bucks) for the new truck he's buying. I'm hoping that he's new, hasn't read all the posts yet and why he is still thinking this way is he didn't compute what that money would be worth in 36 years of having it invested.

Again, as I've said before many times, there isn't anything wrong with this just so you first have 3 months worth of expenses saved in a rainy day fund, you are putting money in an IRA monthly , and you have no debt. Then if you saved IN ADVANCE to buy the fancy rims for your truck............GREAT.

But if you say buy the rims on credit, then its BS.

Today's quiz: If rims & tires cost $2,000 and you invested the money & earned 8% compounded for 36 yrs, what would it be worth then?
You should be able to compute this in one minute, if not re-read the 2/17/05 post.
Email me the answer.