You put $600 into a savings account paying 8% annual interest compounded monthly. After one year you take out all the money and put it into a 9 month CD paying 7.5% annual(simple) interest. How much is your investment worth when the CD matures?

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You put $600 into a savings account paying 8% annual interest compounded monthly. After one year you take out all the money and put it into a 9 month CD paying 7.5% annual(simple) interest. How much is your investment worth when the CD matures?

Mathematics
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$915.13
can u quickly explain how u get it....did u use formula A=P (1+i) ^n
i do and it wont let me...??

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Other answers:

A=600 A(1+(.08/12))^12= 866.40= B B(1+(.075*.75)) =915.14
thank u sooo much =)

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