Therefore 1364.69 should be rounded up to 1000.
Ashley invests $9,720 in a one-month money market account paying 3.16% simple annual interest and $8,140 in a two-year CD yieldi
ng 3.23% simple annual interest. Assuming Ashley does not reinvest or renew these investments, how much money will she have when both investments reach maturity, to the nearest dollar?
2 answers:
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Answer:
.054 interest rate (not it percentage)
Step-by-step explanation:
A = future value: $130,000
P = principal (initial) value: $50,000
r = interest rate: unknown value
t = time: 20 years