Solved: Solve the following word problems by using Table 11-1 or 11-2. When necessary

Chapter 0, Problem 25

(choose chapter or problem)

Solve the following word problems by using Table 11-1 or 11-2. When necessary, create new table factors. Round dollars to the nearest cent and percents to the nearest hundredth of apercent.Over the past 10 years, youve made the following investments: 1. Deposited $10,000 at 8% compounded semiannually in a 3-year certificate of deposit. 2. A fter the 3 years, you took the maturity value (principal and interest) of that CD and added another $5,000 to buy a 4-year, 6% certificate compounded quarterly. 3. W hen that certificate matured, you added another $8,000 and bought a 3-year, 7% certificate compounded annually. a. What was the total worth of your investment when the last certificate matured? b. What is the total amount of compound interest earned over the 10-year period?