Homework Answers
total lottery winning = $10000
50% invested in gold which grow at 7% for 13 years,
So, value invested after 13 years is FV=PV*(1+r)^t
FV = 5000*1.07^13 = $12049.23
50% invested in CD that yields 6% compounded semiannual for 13 years,
So, value invested after 13 years is FV=PV*(1+r/n)^(n*t)
FV = 5000*(1+.06/2)^(2*13) = $10782.96
total invest value after 13 years = 12049.23 + 10782.96 = $22832.18
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worth 1/4 of my grade on this assignment. Can someone who is 100%
sure they know what they are doing help me please?
No photos/handwritten because I can't see them thanks
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