Asked by kerry
ok this is the last question i need help on.
Abigail just received an inheritance from her grandfather's estate. She will be entering college in 1 year and is expecting to need $3,000, $5,000, $4,000, and $4,500 respectively at the beginning of each of the 4 consecutive years at school.
If she can get GICs with 4% interest, compounding daily, what principal amount would Abigail need to invest from her inheritance to completely be self-sufficient during these school years? For full marks your answer(s) should be rounded to the nearest cent.
Abigail just received an inheritance from her grandfather's estate. She will be entering college in 1 year and is expecting to need $3,000, $5,000, $4,000, and $4,500 respectively at the beginning of each of the 4 consecutive years at school.
If she can get GICs with 4% interest, compounding daily, what principal amount would Abigail need to invest from her inheritance to completely be self-sufficient during these school years? For full marks your answer(s) should be rounded to the nearest cent.
Answers
Answered by
Anonymous
180.82
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.