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What recommendation would make to maripily

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Question 1: Maripily has deposited $ 33,000 today in an account that will earn 8.97% percent per year. She plans to leave the funds in this account for 7 years earning interest. If the goal of this deposit is to cover a future obligation of $ 65,000, what recommendation would you make to Maripily? Is it enough money? Did it fall short? How much did Maripily have to deposit from day 1?

You must use the future value and the present value for your answer. Consider the value of money over time to analyze this exercise.

Reference no: EM132588782

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