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 7% per year, and the other half in certificates of deposit (CDs), which were yielding 3% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 13 years? (Round your answer to the nearest cent.)

asked by alexia

8 years ago

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2 answers

5000*(1+.07*13) + 5000(1+.03/2)^(2*13)

= $16,913.55

answered by Steve

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2

^thats wrong yo it don't work

answered by henry

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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 7% per year, and the other half in certificates of deposit (CDs), which were yielding 3% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 13 years? (Round your answer to the nearest cent.)

2 answers

5000*(1+.07*13) + 5000(1+.03/2)^(2*13)

= $16,913.55

^thats wrong yo it don't work

Ask a New Question or answer this question.

Steve · Answer

5000*(1+.07*13) + 5000(1+.03/2)^(2*13) = $16,913.55

henry · Answer

^thats wrong yo it don't work