Mary Stahley invested $3500 in a 48-month certificate of deposit (CD) that earned 9.5% annual simple interest. How much did Mary receive when the CD matured? $ When the CD matured, she invested the full amount in a mutual fund that had an annual growth equivalent to 16% compounded annually. How much was Mary's mutual fund worth after 12 years? (Round your answer to the nearest cent.)
Mary Stahley invested $3500 in a 48-month certificate of deposit (CD) that earned 9.5% annual simple interest. How much did Mary receive when the CD matured? $ When the CD matured, she invested the full amount in a mutual fund that had an annual growth equivalent to 16% compounded annually. How much was Mary's mutual fund worth after 12 years? (Round your answer to the nearest cent.)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter2: Descriptive Statistics
Section: Chapter Questions
Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...
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Mary Stahley invested $3500 in a 48-month certificate of deposit (CD) that earned 9.5% annual simple interest. How much did Mary receive when the CD matured?
$
When the CD matured, she invested the full amount in a mutual fund that had an annual growth equivalent to 16% compounded annually. How much was Mary's mutual fund worth after 12 years? (Round your answer to the nearest cent.)
$
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