Multiple Choice
The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations. Ashley inherited $140,000 from an aunt.If Ashley decides not to spend her inheritance but to leave the money in her savings account until she retires in 15 years,how much money will she have assuming an annual interest rate of 8%,compounded semiannually?
A) $ 308,000
B) $ 509,880
C) $ 454,020
D) $7,851,900
Correct Answer:
Verified
Correct Answer:
Verified
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