A recent high school graduate received $900 in gifts of cash from friends and relatives. In addition, she received three scholarships in the amounts of $450, $700, and $1100. If she takes all her gift and scholarship money and invests it in a 36-month CD paying 1% interest compounded daily, how much will the graduate have when she cashes in the CD at the end of the 36-months? The graduate will have $ when she cashes in the CD. (Round to the nearest cent as needed.)
A recent high school graduate received $900 in gifts of cash from friends and relatives. In addition, she received three scholarships in the amounts of $450, $700, and $1100. If she takes all her gift and scholarship money and invests it in a 36-month CD paying 1% interest compounded daily, how much will the graduate have when she cashes in the CD at the end of the 36-months? The graduate will have $ when she cashes in the CD. (Round to the nearest cent as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A recent high school graduate received $900 in gifts of cash from friends and relatives. In addition, she received three scholarships in the amounts of $450, $700, and $1100. If she takes all
her gift and scholarship money and invests it in a 36-month CD paying 1% interest compounded daily, how much will the graduate have when she cashes in the CD at the end of the
36-months?
The graduate will have $
when she cashes in the CD.
(Round to the nearest cent as needed.)
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