Lucas wins $60000 (after taxes) in the lottery and decides to invest half of it in a 6-year CD that pays 4.63% interest compounded quarterly (4 times/year). He invests the other half in a money market fund that unfortunately turns out to average only 3.72% interest compounded annually over the 5-year period. How much money will he have altogether in the two accounts at the end of the 5-year period?

Question

Lucas wins $60000 (after taxes) in the lottery and decides to invest half of it in a 6-year CD that pays 4.63% interest compounded quarterly (4 times/year).  He invests the other half in a money market fund that unfortunately turns out to average only 3.72% interest compounded annually over the 5-year period.  How much money will he have altogether in the two accounts at the end of the 5-year period?