Maria Has Just Received an Inheritance of $89,218 and She

question 132

Multiple Choice

Maria has just received an inheritance of $89,218 and she is going to invest the money today at 10.5% compounded monthly. This money must provide her with $75,000 in eight years and $100,000 in twelve years. If the $89,218 isn't enough, she will add to the investment now from her other savings. If the $89,218 is more than enough she will spend the extra money. Which of the following statements is true?

• A) She must add $11,674 to the $89,218.
• B) She must add $85,782 to the $89,218.
• C) She has exactly the right amount of money now.
• D) She can spend $137,812 of the $89,218.
• E) She can spend $28,200 of the $89,218.

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Definitions:

Ethnic Silos

Social structures or groups that are highly homogeneous in terms of ethnicity, often leading to isolation from or lack of interaction with different ethnic groups.

Opposed To Multiculturalism

Holding a stance against the integration and coexistence of various cultural groups within a society, favoring a more homogenous cultural identity.

Liberal Society

A society characterized by a commitment to individual freedom, equality, and tolerance, often with a focus on protecting civil liberties.

Multiculturalism

A societal approach that embraces diversity and promotes the inclusion and respect of various cultural backgrounds within a population.