Suppose that you have inherited $2500.00 from your uncle. His will states that you must put 65% of your inheritance into a savings account for your post-secondary education.

You may spend the remaining amount of money on exactly 10 items of your choice, with the following conditions:

• You must research and find the best interest rate available for the money you are investing.

• You cannot spend more than $100 on any single item. • You must find the best buy for each item. How will you meet the conditions of your uncle’s will?

A. How much money will you invest? How much money do you have to spend?

B. How will you invest your money for your education?

C. How much money will you have in your savings account in five years? How much of this money will be interest?

D. Make a list of 10 items that you would like to buy with the remaining money.

E. Use a newspaper or the Internet, or go shopping, to find the best buy for each item on your list.

F. For each item, record the regular price, the sale price, and the name of the store where you found the best buy.

G. Verify, through calculations, that you can purchase all the items on your list with your money. Remember to include 15% tax.

H. Compare the total cost of the 10 items purchased on sale with the total cost at the regular price. How much did you save? Determine your savings as a percent.