Mary Stahley invested $2500 in a 36-month certificate of deposit (CD) that earned 6.5% annual simple interest. When the CD matured, she invested the full amount in a mutual fund that had an annual growth equivalent to 15% compounded annually. After 12 years in the mutual fund, how much was her investment worth?

Answer rating: 100% (QA)

In simple interest the interest earned is given by I Prt where I is the interest P is the principal ... View the full answer