When I was considering what to do with the $15,000 proceeds from my sale of technology stock, my broker suggested I invest half of it in municipal bonds, whose value was growing by 8.5% per year, and the other half in CDs, which were yielding 6.25% per year compounded every two months. Assuming that these interest rates are sustained, how much will my investments be worth in 12 years? Select one: O a. $35,778.68 O b. $38,778.68 Oc. $45,778.68 o d. $39,778.68 O e. $32,778.68

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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When I was considering what to do with the $15,000 proceeds from my sale of technology
stock, my broker suggested I invest half of it in municipal bonds, whose value was growing by
8.5% per year, and the other half in CDs, which were yielding 6.25% per year compounded
every two months. Assuming that these interest rates are sustained, how much will my
investments be worth in 12 years?
Select one:
O a. $35,778.68
O b. $38,778.68
Oc. $45,778.68
o d. $39,778.68
O e. $32,778.68
Transcribed Image Text:When I was considering what to do with the $15,000 proceeds from my sale of technology stock, my broker suggested I invest half of it in municipal bonds, whose value was growing by 8.5% per year, and the other half in CDs, which were yielding 6.25% per year compounded every two months. Assuming that these interest rates are sustained, how much will my investments be worth in 12 years? Select one: O a. $35,778.68 O b. $38,778.68 Oc. $45,778.68 o d. $39,778.68 O e. $32,778.68
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