Tishie invests $3,000 today at a 9% rate of return. She wants to have $24,000 to give to her granddaughter Kathy for college 16 years from now. Which one of the following statements is correct concerning Tishie's situation? Multiple Choice Tishie will only have approximately $12,000 sixteen years from now. Tishie will have the $24,000 when she wants it. Tishie should plan on only giving Kathy $10,000 in sixteen years. Tishie would have to earn a 10% rate of return to have $24,000 in 16 years. Tishie would have to wait an additional ten years to have $24,000