Question
Mary Stahley invested $2500 in a 36 -month certificate of deposit (CD) that earned 6.5% annual simple interest. When the CD matured, she invested the
Mary Stahley invested$2500in a36-month certificate of deposit (CD) that earned6.5%annual simple interest. When the CD matured, she invested the full amount in a mutual fund that had an annual growth equivalent to15%compounded annually. After12years in the mutual fund, how much was her investment worth?
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Linear Algebra and Its Applications
Authors: David C. Lay
4th edition
321791541, 978-0321388834, 978-0321791542
