Ashley invests $9,720 in a one-month money market account paying 3.16% simple annual interest and $8,140 in a two-year cd yielding 3.23% simple annual interest. assuming ashley does not reinvest or renew these investments, how much money will she have when both investments reach maturity, to the nearest dollar? a. $550 b. $1,080 c. $17,310 d. $18,411

Hi there
To find The simple interest The formula is
I=prt
I interest earned
P principle
R interest rate
T time

To find the maturity value The formula is
Mv=p+I
Mv maturity value
P principle
I interest earned

The interest earned of the first investment is
I=9,720×0.0316×(1÷12)
I=25.596
The maturity value is
mv=9,720+25.596
mv=9,745.596

The interest earned of the second investment is
I=8,140×0.0323×2
I=525.844
The maturity value is
Mv=8,140+525.844
Mv=8,665.844

The maturity value of both investments is
8,665.844+9,745.596=18,411.44
Round your answer to get 18411

It's d

Good luck!

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