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How much will my investment be worth in nine years

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Reference no: EM131584227

Question: When I was considering what to do with my $10,000 Lottery winnings, my broker suggested I invest half of it in gold, the value of which was growing by 11% per year, and the other half in certificates of deposit (CDs), which were yielding 2% 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.)

Reference no: EM131584227

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