Harper Wheeler
08/03/2024 · High School
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 \( 10 \% \) 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 9 years? (Round your answer to the nearest cent.) \( \$ \)
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The total value of your investment after 9 years will be approximately $19,243.87.
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