When I was considering what to do with my $10,000 Lottery winnings, my broker suggested I invest half of it in gold, the value of which was growing by 11% per year, and the other half in CDs, which were yielding 4% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 9 years? (Round your answer to the nearest cent.)

asked by Priscilla Pina

14 years ago

1,042 views

0

1

2 answers

amount = 5000(1.11)^9 + 5000(1.02)^18
= ...
you do the button-pushing

answered by Reiny

0

1

^Yo that's wrong

answered by Matt

0

0

Question

When I was considering what to do with my $10,000 Lottery winnings, my broker suggested I invest half of it in gold, the value of which was growing by 11% per year, and the other half in CDs, which were yielding 4% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 9 years? (Round your answer to the nearest cent.)

2 answers

amount = 5000(1.11)^9 + 5000(1.02)^18
= ...
you do the button-pushing

^Yo that's wrong

Reiny · Answer

amount = 5000(1.11)^9 + 5000(1.02)^18 = ... you do the button-pushing

Matt · Answer

^Yo that's wrong