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 15 years? (Round your answer to the nearest cent.)
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 15 years? (Round your answer to the nearest cent.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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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 15 years? (Round your answer to the nearest cent.)
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Investment decisions refer to the process of evaluating different investment opportunities and selecting the ones that are likely to provide the best returns with an acceptable level of risk.
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