Homework answers / question archive / Part 1)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 12% per year, and the other half in certificates of deposit (CDs), which were yielding 2% per year, compounded every 6 months

Part 1)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 12% per year, and the other half in certificates of deposit (CDs), which were yielding 2% per year, compounded every 6 months

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Part 1)When I was considering what to do with my $10,000 lottery winnings, my broker suggested that I invest half of it in gold, the value of which was growing by 12% per year, and the other half in certificates of deposit (CDs), which were yielding 2% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 6 years? (Round your answer to the nearest cent.)$ ?

Part 2)Compute the specified quantity.Your total payment on a 7-year loan, which charged 7% annual simple interest, amounted to $60,560. How much did you originally borrow? (Round your answer to the nearest cent.) $?