When I was considering what to do with the $6,000 proceeds from my sale of technology stock, my broker suggested I invest half of it in municipal bonds, whose value was growing by 15% per year, and the other half in certificates of deposit (CDs), which were yielding 7% per year compounded every 2 months. Assuming that these rates are sustained, how much will my investment be worth in 8 years? Round your answer to the nearest cent.
?
A. $14,412.19
B. $9,177.07
C. $14,412.09
D. $5,235.02
E. $14,411.09
Answer: C
Mathematics
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