Mary Stahley invested $2500 in a 48-month certificate of deposit (CD) that earned 9.5% annual simple interest. When the CD matured, she invested the full amount in a mutual fund that had an annual...


Mary Stahley invested $2500 in a 48-month certificate of deposit (CD) that earned 9.5% annual simple interest. When the CD matured, she invested the full amount in a mutual fund that had an annual growth equivalent to 18% compounded annually. How much was the mutual fund worth after 11 years? (Round your answer to the nearest cent.)



Jun 01, 2022
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