Question

Erik Johnson has just become a heir to $15 000. He's 23 years old, and hes graduated frm university business program. He works as an assistant managager of retail store. He lives with his friend in a two bedroom apartment. He saves 5% of his monthly paycheck. Erik wants to save his inheritance in secure investments cause he does not wish to lose out on his money. Though he also wants a good yield on his investment. The only main cost that Erik arranges is a 1 week vacation in the Carribean. What suggestion may possibly be given to Erik on how to invest his $15 000?

Answer 1

Erik should shop around for the best interest on tax-free municipal bonds or certificates of deposit.