How much will my investment be worth

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Reference no: EM131848256

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 10% per year, and the other half in certificates of deposit (CDs), which were yielding 4% per year, compounded every 6 months. Assuming that these rates are sustained, how much will my investment be worth in 7 years? (Round your answer to the nearest cent.)

Reference no: EM131848256

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