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Linda Roy received a $204,000 inheritance after taxes from her parents. She invested it at 6% interest compounded quarterly for 7 years. A year later, she sold one of her rental properties for $214,000 and invested that money at 5% compounded semiannually for 6 years. Both of the investments have matured. She is hoping to have at least $504,000 in 11 years compounded annually at 4% interest so she can move to Hawaii.
Future Value of Inheritance Investment: $ _______
Future Value of Rental Property Investment: $ ______
Present Value of Final Investment: $ _______
Future Value of Final Investment: $ _______
Will she meet her goal? Yes or No
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