aryanatarango aryanatarango

15-08-2016
Mathematics

Answered

Suppose you have $5000 to invest. A certificate of deposit (CD) earn 6% annual interest, while bonds, which are riskier, earn 8% annual interest. You decide to invest $2000 in a CD and the rest in bonds. How much interest will you have earned at the end of one year? Of two years, compound annually?

Verified Answer :

Vectesper Vectesper

15-08-2016

\(2000(1.06)+3000(1.08)-5000=360\)
\(2000(1.06)^2+3000(1.08)^2-5000=746.4\)

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