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Linda Roy received a $223,000 inheritance after taxes from her parents. She invested it at 6.5% interest compounded quarterly for 8 years. A year later,
Linda Roy received a $223,000 inheritance after taxes from her parents. She invested it at 6.5% interest compounded quarterly for 8 years. A year later, she sold one of her rental properties for $233,000 and invested that money at 5.5% compounded semiannually for 7 years. Both of the investments have matured. She is hoping to have at least $523,000 in 12 years compounded annually at 4.5% interest so she can move to Hawaii. Future Value of Inheritance Investment: $ Future Value of Rental Property Investment: $ Present Value of Final Investment: $N Future Value of Final Investment: $ Will she meet her goal? Yes O No
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