Question
Linda Roy received a $218,000 inheritance after taxes from her parents. She invested it at 4% interest compounded quarterly for 3 years. A year later,
| Linda Roy received a $218,000 inheritance after taxes from her parents. She invested it at 4% interest compounded quarterly for 3 years. A year later, she sold one of her rental properties for $228,000 and invested that money at 3% compounded semiannually for 2 years. Both of the investments have matured. She is hoping to have at least $518,000 in 7 years compounded annually at 2% interest so she can move to Hawaii. If.... |
| Future Value of Inheritance Investment: $ 245,648 |
| Future Value of Rental Property Investment: $241,991
What is the Present Value of Final Investment? What is teh Future Value of Final Investment?
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Mastering Islamic Finance
Authors: Faizal Karbani
1st Edition
1292001445, 978-1292001449
