Linda Roy received a $202,000 inheritance after taxes from her parents. She invested it at 5% interest compounded quarterly for 5 years. A year later, she sold one of her rental properties for $212,000 and invested that money at 4% compounded semiannually for 4 years. Both of the investments have matured. She is hoping to have at least $502,000 in 9 years compounded annually at 3% interest so she can move to Hawaii.
Future Value of Inheritance Investment: $
Future Value of Rental Property Investment: $
Present Value of Final Investment: $
Future Value of Final Investment: $
Will she meet her goal?
Yes No