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gracie2492
22.10.2020 •
Mathematics
Katherine invests $7770 in a six-month money market account giving 5.8% simple annual interest and $12,500 in a
three-year CD giving 7 25% simple annual interest. Assuming that Katherine does not reinvest or renew these
investments, how much money will she have when both investments reach maturity, to the nearest dollar?
$2,944
b. $15,219
$23,214
d. $30,886
a
С.
Solved
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Ответ:
Katherine will receive $23214 to the nearest dollar from both investments.
Step-by-step explanation:
Simple interest = Principal × Time × rate
Le's work out the interest Katherine earns from the two investments.
Money Market Account
Simple interest = 7770 × 5.8/100 × 6/12
= 7770 × 0.058 × 0.5 = $225.33
So, the amount she gets at maturity is:
$7770 + $225.33= $7995.33
CD account
Simple interest = 12500 × 0.0725 × 3 = $2718.75
The amount she receives at the end of period is:
$12500 + $2718.75 = $15218.75
The total amount she receives from both investments at maturity is:
$15218.75 + $7995.33 = $23214.08
This to the nearest dollar is:
= $23214
Ответ:
product a
Step-by-step explanation:
product b is 3.20 for the 16 oz
product a would be 2.72 for 16 oz