You Just Received a $5,000 Gift from Your Grandmother Which

question 1

Multiple Choice

You just received a $5,000 gift from your grandmother which you have decided to save and then gift to your grandchildren 50 years from now. How much additional money will you gift if you earn 7.5 percent interest rather than 7 percent interest over the next 50 years?

• A) $39,318.09
• B) $39,464.79
• C) $38,211.16
• D) $37,811.99
• E) $38,663.60

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Certified Public Accountant; a professional designation given to accountants who meet specific educational and experience requirements and pass an exam.

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