How much was the mutual fund worth after 9 year

Reference no: EM13300175

Mary Sthaley invested $2500 in a 36-month certificate of deposit (CD) that earned 8.5% annual simple interest. When the CD matured she invested the full amount in a mutual fund that had an annual growth equivalent to 18% compounded annually. How much was the mutual fund worth after 9 year?

Reference no: EM13300175

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