Beverly Forest is a single parent with twin daughters who are now seniors in high school. Beverly inherited money from her father's estate and decided that it would be reasonable to save $50,000 of the inheritance for wedding expenses in the event that both daughters should decide to get married in the same year. How much money will Beverly have in 4 years if she can invest the $50,000 and get a return of 8% compounded quarterly? (Use Tables 16-1A&B or 16-2A&B or a calculator.)

Question

Beverly Forest is a single parent with twin daughters who are now seniors in high school. Beverly inherited money from her father's estate and decided that it would be reasonable to save $50,000 of the inheritance for wedding expenses in the event that both daughters should decide to get married in the same year. How much money will Beverly have in 4 years if she can invest the $50,000 and get a return of 8% compounded quarterly? (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Sanya Chauhan · Accepted Answer

Final Answer : 0.08 ¸ 4 = 0.02; 4 ´ 4 = 16;$50,000 ´ 1.37279 = $68,639.50 in 4 years​

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