Answer:
- mutual fund: $9000
- CDs: $71000
- return: $6220, an average of 7.775%
Step-by-step explanation:
Since the mutual fund is the lower yield vehicle, only the minimum should be invested there.
The investments and returns should be ...
mutual fund: $9000, return = 6% × $9000 = $540
CD: $71000, return = 8% × $71000 = $5680
The maximum return is ...
$540 +5680 = $6220
Answer:
well i know you have that done now
Step-by-step explanation:
Answer:
More context please
Step-by-step explanation:
Answer:B
Step-by-step explanation:
The formula to use here would be:
A = P(1+r)^t where P is the principal (starting) amount, r is the rate of interest, and t is time. Knowing this, plug in your values:
A = 14,000(1+0.07)^4 once worked out, you should get $18,351.14414 < this is the total amount he would be paying at the end of 4 years. to find the interest, subtract this amount from the principal amount (14,000):
$18,5351.14414 - 14,000 = 4,351.14414 < this is the amount of interest. Round your answer.
Answer: Jamal will pain $4,351.14 interest.