Which one is it A, B, C, or D?
1 answer:
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Answer:
$3220
Step-by-step explanation:
A man invests $1000 in a 12-month certificate of deposit paying 8% interest.
So, after 1 year his money will become from the certificate deposit = $
Again the man invest $2000 in municipal bonds that pays 7% a year.
So, after 1 year his money will become from the municipal bond = $
Therefore, total yearly return from both the above investment will be $[(1080 + 2140) -(1000 + 2000)] = $220 (Answer)