document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1148697>Question 1148697</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You deposit $9,200 in a 2-year certificate of deposit (CD) earning 2.4% annual interest compounded daily. At the end of the 2 years, you reinvest the compound amount plus an additional $9,200 in another 2-year CD. The annual interest rate on the second CD is 2.9%, compounded daily. What is the compound amount when the second CD matures? <BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #770040 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=770040\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> This is 9200(1+.024/365)^730 for the first two years=$9652.35 rounding at the end<BR>\n" );
document.write( "add $9200 for $18852.35(1+.029/365)^730=$19,978.07 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );