Answer:
You should invest US$ 9,000 in the CD to replace all the windows in your house.
Step-by-step explanation:
Let's recall that the simple interest formula is:
A = P * (1 + r * t), where,
A = final amount
P = initial principal balance
r = annual interest rate
t = time (in years)
Replacing with the real value, we have:
11,700 = P * (1 + 0.06 * 5)
11,700 = P * (1.3)
P = 11,700/1.3
P = 9,000
You should invest US$ 9,000 in the CD to replace all the windows in your house in 5 years.
