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Mary Stahley invested $6500 in a 48-month certificate of deposit (CD) that earned 8.5% annual simple interest. When the CD matured, she invested the
Mary Stahley invested $6500 in a 48-month certificate of deposit (CD) that earned 8.5% annual simple interest. When the CD matured, she invested the full amount in a mutual fund that had an annual growth equivalent to 15% compounded annually. How much was the mutual fund worth after 8 years? (Round your answer to the nearest cent.) $ Need Help?
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Investments An Introduction
Authors: Herbert B. Mayo
12th edition
1305638417, 978-1337430937, 1337430935, 978-1305638419
