Solve the Problem. -You Just Put $1650 in a CD That Is Expected

question 75

Multiple Choice

Solve the problem.
-You just put $1650 in a CD that is expected to earn 9% compounded quarterly, and $30,000 in a savings account that is expected to earn 4% compounded semiannually. Determine when, to the
Nearest year, the values of your two investments will be the same.

• A)76 years
• B)41 years
• C)23 years
• D)59 years