Dr. Zaius invests $10,000 in a CD with an annual interest rate of 4% that compounds semi-annually (twice a year). After six months, he rolls over the CD into another CD with an annual interest rate of 5% that also compounds semi-annually. After six months in the second CD, how much does Dr. Zaius have, in dollars?


Thanks so much!


Amount  accumulated after 6 months  =


1000 ( 1 + .04/2) =  $1020


Amt  at the end  =


1020 ( 1 + .05/2)  =  $1045.50



cool cool cool

CPhill  Dec 3, 2017

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