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Business, 05.03.2021 01:00 dinadenoirefan

The state highway department has condemned Ms. Green's farm to build a new highway by-pass. They have already paid $160,000 for the property and have agreed to let Ms. Green continue to live in the house until construction on the by-pass actually begins. Due to state budget problems, all highway construction jobs in the region have been suspended indefinitely. Today Ms. Green deposits the entire amount paid for the property in an account at an interest rate of 5%, compounded quarterly (4 times per year). She plans to use the entire balance in the account to invest in a new home at the time that construction on the by-pass actually begins. How much will Ms. Green have to invest in a new home if construction begins 5 years from today

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The state highway department has condemned Ms. Green's farm to build a new highway by-pass. They hav...
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