Your Grandmother Invested One Lump Sum 42 Years Ago at 3.5

question 101

Multiple Choice

Your grandmother invested one lump sum 42 years ago at 3.5% interest. Today, she gave you the proceeds of that investment which totaled $28,204.37. How much did your grandmother originally invest?

• A) $4,500
• B) $6,650
• C) $7,200
• D) $7,500
• E) $9,000

---

Definitions:

Unanimous Partners' Agreement

A legal agreement among all partners in a business, requiring complete agreement on any decision or action.

Large Contracts

Agreements, typically involving substantial financial values or significant responsibilities, used in major transactions or projects.

Compensation Clause

A provision within a contract or agreement that specifies the amount of payment, or method for determining payment, for services rendered or damage incurred.

Intermediate Court

Generally refers to a court that sits between lower courts and the highest court in a jurisdiction, often handling appeals from lower-tier courts.