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 6% that also compounds semi-annually. After six months in the second CD, how much does Dr. Zaius have, in dollars?
+36915 First period interest (6 months ) = .04/2 periods = 1
second period (6 months ) = .06/2 periods = 1
10000 ( 1+.04/2)1(1+.06/2)1 = 10 506 .00 dollars
