Solve the following word problems by using Table 11-1 or 11-2. When necessary, create new table factors. Round dollars to the nearest cent and percents to the nearest hundredth of a percent.
Over the past 10 years, you’ve made the following investments:
Deposited $10,000 at
After 3 years, you took the maturity value (principal and interest) of that CD and added another $5,000 to buy a 4-year,
When that certificate matured, you added another $8,000 and bought a 3-year,
a. What was the total worth of your investment when the last certificate matured?
b. What is the total amount of compound interest earned over the 10-year period?
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