When I Was Considering What to Do with the $9,000

question 79

Short Answer

When I was considering what to do with the $9,000 proceeds from my sale of technology stock, my broker suggested I invest half of it in municipal bonds, whose value was growing by 12% per year, and the other half in certificates of deposit (CDs), which were yielding 3% per year compounded every 2 months. Assuming that these rates are sustained, how much will my investment be worth in 12 years Round your answer to the nearest cent.

$ __________

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