Multiple Choice
Grandma Jenkins knows that she has between six and nine months left to live. She wants to leave each of her grandchildren $1,000 when she dies. For this purpose, she has established a trust fund and has deposited sufficient monies to provide for her twelve grandchildren. Today, she just discovered that her daughter is going to have twins, increasing the number of her grandchildren to thirteen. To ensure her final wish is fully funded, Grandma Jenkins needs to:
A) Withdraw $1,000 from her trust account.
B) Withdraw less than $1,000 from her trust account.
C) See if the rate of interest on her account can be lowered.
D) Deposit at least $1,050 into her trust account.
E) Deposit a little less than $1,000 into her trust account.
Correct Answer:

Verified
Correct Answer:
Verified
Q184: Lakeside Inc. invested $735,000 at an 11.25%
Q185: You will be receiving $5,000 from your
Q186: All else being the same, which of
Q187: Chia Burgers began operations by opening 115
Q188: The future value of a single sum
Q190: Tom and Antonio both want to open
Q191: An investor is considering depositing $20,000 in
Q192: Robin invested $10,000 in an account that
Q193: Jamie deposits $1,000 into an account that
Q194: Compound interest is best defined as the