Suppose that$22,700 is invested in a certificate of deposit for 1 year at 10.9% annual interest to be compounded semi-annually. how much interest will this investment earn? round your answer to the nearest cent, if necessary. note: 365 days in a year and 30 days in a month

$2541.72

Step-by-step explanation:

$22700 is invested in a certificate of deposit for 1 year at 10.9% annual interest to be compounded semi-annually.

So, the semi-annual interest is %

If the invested amount is P and r% interest and compounded n times then the interest will become ,

Therefore, in this case,

= 2541.72

So, the interest becomes $2541.72. (Answer)

4.5%

step-by-step explanation:

1st part is 64,000,000

2nd part 500,000

step-by-step explanation: