When I was considering what to do with my $7,500 Lottery winnings, my broker suggested I invest half of it in gold, whose value was growing by 11% per year, and the other half in certificates of deposit (CDs), which were yielding 9% 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.

$ __________

Question

When I was considering what to do with my $7,500 Lottery winnings, my broker suggested I invest half of it in gold, whose value was growing by 11% per year, and the other half in certificates of deposit (CDs), which were yielding 9% 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.
 
$ __________

Quizplus · Accepted Answer

The Answer of When I was considering what to do with my $7,500 Lottery winnings, my broker suggested I invest half of it in gold, whose value was growing by 11% per year, and the other half in certificates of deposit (CDs), which were yielding 9% 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.
 
$ __________

When I Was Considering What to Do with My $7,500