Question
1.You have just won the lottery! You have netted $1,410,567 in cash.If you can access a bank account paying 4.5% compounded monthly, can you can
1.You have just won the lottery! You have netted $1,410,567 in cash.If you can access a bank account paying 4.5% compounded monthly, can you can afford the following spending plan?
A)Purchase your friend's complete art collection of melting icebergs today, valued at $650,000 (though she's agreed to a 20% discount on the total value)
B)Buy a Bentley outright after your Honda lease is up in 24 months.At this time, you expect the Bentley to cost you $345,000.
C)Pay for your nephew's education, which will cost $15,000 a year for four years.He will start university in 2 years.
D)In 5 years, buy your parents a house in Florida for $256,000.
E)In 10 years, take a luxury trip around the world in a private jet for $500,000.
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