Wilhelmina Has Just Received an Inheritance of $50,000, and She

Multiple Choice

Wilhelmina has just received an inheritance of $50,000, and she would like to put it into an investment portfolio for 8 years. She believes she can earn 4% on the investment. What will the value of the investment be at the end of 8 years?
$\begin{array}{|l|l|l|l|l|l|l|}\hline \text {Future}\\\text {Value of}\\\$ 1\\ \hline &4\%&5\%&6\%&7\%&8\%&9\%\\ \hline 1 & 1.040 & 1.050 & 1.069 & 1.070 & 1.08 & 1.090 \\\hline 2 & 1.082 & 1.103 & 1.124 & 1.145 & 1.166 & 1.188 \\\hline 3 & 1.125 & 1.158 & 1.191 & 1.225 & 1.260 & 1.295 \\\hline 4 & 1.170 & 1.216 & 1.269 & 1.311 & 1.369 & 1.412 \\\hline 5 & 1.217 & 1.276 & 1.338 & 1.40 & 1.469 & 1.539 \\\hline 6 & 1.265 & 1.340 & 1.419 & 1.501 & 1.587 & 1.677 \\\hline 7 & 1.316 & 1.407 & 1.504 & 1.606 & 1.714 & 1.828 \\\hline 8 & 1.369 & 1.477 & 1.594 & 1.719 & 1.851 & 1.993 \\\hline 9 & 1.423 & 1.551 & 1.689 & 1.839 & 1.999 & 2.172 \\\hline 10 & 1.480 & 1.629 & 1.791 & 1.967 & 2.159 & 2.367 \\\hline \end{array}$

A) $62,400
B) $59,670
C) $68,450
D) $69,220