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March 27, 2017

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When I was considering what to do with my $10,000 Lottery winnings, my broker suggested I invest half of it in gold, the value of which was growing by 12% per year, and the other half in CDs, which were yielding 5% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 7 years? (Round your answer to the nearest cent.)

  • Math 1320 - ,

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