1. Mei Tekei just had a birthday and is 22. When she is 27, she will receive a $100,000 inheritance. Tekei needs funds for the down payment on a co-op in Manhattan and has found a bank that will give her the present value of her inheritance amount (assuming 8.0 percent interest compounded continuously). Will the proceeds from the bank be sufficient to cover her total cost closing costs of $65,000?