Top Posters
Since Sunday
R
11
g
10
a
10
d
10
y
10
n
10
p
9
d
9
M
9
S
9
S
9
s
9

Maria has just received an inheritance of $89,218 and she is going to invest the money today at ... wrote... Posts: 92 Rep: 4 months ago Maria has just received an inheritance of$89,218 and she is going to invest the money today at 10.5% compounded monthly. This money must provide her with $75,000 in eight years and$100,000 in twelve years. If the $89,218 isn't enough, she will add to the investment now from her other savings. If the$89,218 is more than enough she will spend the extra money. Which of the following statements is true?

▸ She must add $11,674 to the$89,218.

▸ She must add $85,782 to the$89,218.

▸ She has exactly the right amount of money now.

▸ She can spend $137,812 of the$89,218.

▸ She can spend $28,200 of the$89,218.
Textbook

Edition: 11th
Authors:
Replies
Answer verified by a subject expert
sbbaltsbbalt
wrote...
Posts: 106
Rep:
4 months ago

Related Topics

mombefor78 Author
wrote...

4 months ago
 this is exactly what I needed
wrote...

Yesterday
 Correct TY
wrote...

2 hours ago
 This calls for a celebration
Explore