When I was considering what to do with my $10,000 lottery winnings, my broker suggested that...
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When I was considering what to do with my $10,000 lottery winnings, my broker suggested that I invest half of it in gold, the value of which was growing by 7% per year, and the other half in certificates of deposit (CDs), which were yielding 5% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 9 years? (Round your answer to the nearest cent.) Submit Answer 5. [-18.33 Points] DETAILS WANEFMAC7 2.2.064. Obtain an exponential function in the form f(t) = Aert. f(t) is the value after t years of a $7,000 investment earning 6.9% interest compounded continuously. f(t) 6. [-18.35 Points] DETAILS WANEFMAC7 2.3.036. How long, rounded up to the nearest year, will it take me to become a millionaire if I invest $3,000 at 11% interest compounded continuously? yr MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER When I was considering what to do with my $10,000 lottery winnings, my broker suggested that I invest half of it in gold, the value of which was growing by 7% per year, and the other half in certificates of deposit (CDs), which were yielding 5% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 9 years? (Round your answer to the nearest cent.) Submit Answer 5. [-18.33 Points] DETAILS WANEFMAC7 2.2.064. Obtain an exponential function in the form f(t) = Aert. f(t) is the value after t years of a $7,000 investment earning 6.9% interest compounded continuously. f(t) 6. [-18.35 Points] DETAILS WANEFMAC7 2.3.036. How long, rounded up to the nearest year, will it take me to become a millionaire if I invest $3,000 at 11% interest compounded continuously? yr MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER
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