Question
Upon graduation from college in two years you plan to go for an extravagant European vacation. Your parents will give you a graduation gift of
Upon graduation from college in two years you plan to go for an extravagant European vacation. Your parents will give you a graduation gift of $3,500 to help with the cost of the vacation. You have $2,000 available at present, which you plan to deposit into an account that pays 11.25 percent interest compounded weekly. What is the maximum amount you will be able to spend on your vacation?
| A. | $6,230 | |
| B. | $5,661 | |
| C. | $5,777 | |
| D. | $5,553 | |
| E. | $5,437 | |
| F. | $6,004 | |
| G. | $6,109 | |
| H. | $5,885 |
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Bakers Health Care Finance Basic Tools For Nonfinancial Managers
Authors: Thomas K. Ross
6th Edition
1284233162, 978-1284233162
