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# Charlotte lives in Montreal and earns $51,000 of taxable income. From her excess cash flow she will invest $1,000 today and $250 at the end of every...

Charlotte lives in Montreal and earns $51,000 of taxable income. From her excess cash flow she will invest $1,000 today and $250 at the end of every month for the first six months of the year. She expects to earn a return of 3%, compounded monthly, and taxable at her marginal tax rate (see Table A at the end of the case study for combined Federal and Quebec tax rates). What will be the value of her after-tax investment in one year's time?

a) $1,611.37

b) $2,539.19

c) $2,562.60

d) $4,045.10