1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jeyben [28]
2 years ago
13

Mary Stahley invested $2500 in a 36-month certifi- cate of deposit (CD) that earned 8.5% annual simple interest. When the CD mat

ured, she invested the full amount in a mutual fund that had an annual growth equivalent to 18% compounded annually. How much was the mutual fund worth after 9 years?
Mathematics
1 answer:
nata0808 [166]2 years ago
3 0

9514 1404 393

Answer:

  $13,916.24

Step-by-step explanation:

First, we need to find the value of the CD at maturity.

  A = P(1 +rt) . . . . simple interest rate r for t years

  A = $2500(1 +0.085·3) = $2500×1.255 = $3137.50

__

Now, we can find the value of the account with compound interest.

  A = P(1 +r)^t . . . . . rate r compounded annually for t years

  A = $3137.50 × 1.18^9 = $13,916.24

The mutual fund was worth $13,916.24 after 9 years.

You might be interested in
The amount spent on food and drink by 20 customers is shown below What is the modal amount spent and the median?
Kaylis [27]

Answer:

Mode = 19.

Median = 23.

Step-by-step explanation:

Arrange in ascending order:

8 9 12 15 17 18 19 19 20 22 24 25 26 27 28 31 34 36 40 43

The modal amount is the one which occurs most , which is 19.

The median is the middle value of the 20 amounts.

As there is an even number of amounts the median is the mean of the 2 middle numbers:

Median = (22 + 24) / 2

= 23.

5 0
3 years ago
30 POINTS HELP ME-
Ray Of Light [21]

Answer:

Number line graph with closed circle on 30 and shading to the right

because you already have 30 dollars and they need at least 120 but if they get more then 120 they can still hold the science fair.

THIS ANSWER ISN'T MINE. I TOOK IT FROM AN ANSWER TO THE SAME QUESTION ANOTHER USER POSTED.

4 0
3 years ago
Read 2 more answers
What is the area of this trapezoid?
pantera1 [17]

Answer:

Area=80 units squared

A=base*height

A=base*height/2

Step-by-step explanation:

7*8=56/2=28

7*8=56/2=28

3*8=24

28+28+24

56+24

80

5 0
3 years ago
Read 2 more answers
Alice placed $1,900 in a savings account which earns 2.2% interest, compounded every year. How much will she have in the account
ella [17]

She will have $2118 in her account after five years

<h3>How to determine the amount in five years?</h3>

The given parameters about the compound interest are

Principal Amount, P = $1,900

Interest Rate, R = 2.2%

Time, t = 5

Compound interests are different from simple interest, and they are calculated using the following compound interest formula

CI = P(1 + R)^t - P

To calculate the amount, we have:

A = P + CI

So, the equation becomes

A = P + P(1 + R)^t - P

Evaluate the like terms

A = P(1 + R)^t

Substitute the known values in the above equation

A = 1900 * (1 + 2.2%)^5

Express 2.2% as decimal

A = 1900 * (1 + 0.022)^5

Evaluate the sum

A = 1900 * (1.022)^5

Evaluate the exponent

A = 1900 * 1.11495

Evaluate the product

A = 2118

Hence, she will have $2118 in her account after five years

Read more about compound interest at:

brainly.com/question/24924853

#SPJ1

6 0
1 year ago
Rebecca's buys some scarves that costs $5 each and 2 purses that cost $12 each. The cost of Rebecca's total purchase is $39. Wha
Illusion [34]
Scarves = 3

$39 = 5n + 2(12)
$15 = 5n
n = 3
8 0
3 years ago
Read 2 more answers
Other questions:
  • What is the measure of angle A to the nearest degree
    7·2 answers
  • Will Jennifer owe money or get a refund? How much?
    9·1 answer
  • 2.Rosa has a goal of running a total of 150 miles this month to prepare for a race. Each day she runs 7 miles. She wants to know
    14·1 answer
  • Please help me !!! A question for Pre- Calculus Conic Sections!
    11·1 answer
  • 5) Ray has $25 to spend and used
    8·1 answer
  • Simplify (36)18. (1 point)
    6·1 answer
  • 1 Which of the following situations describes the use
    9·2 answers
  • Pleasse help me with this
    12·1 answer
  • Parker offers to pay for 5 of his friends to play laser tag,
    11·2 answers
  • What’s the answer to this math problem
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!