Mary Stahley invested $4500 in a 24-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 14% compounded annually. How much was Mary's mutual fund worth after 12 years? (Round your answer to the nearest cent.) $ Need Help?

Mary Stahley invested $4500 in a 24-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 14% compounded annually. How much was Mary's mutual fund worth after 12 years? (Round your answer to the nearest cent.) $ Need Help?

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter2: Exponential, Logarithmic, And Trigonometric Functions

Section2.1: Exponential Functions

Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...

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