A bank offers the following certificates of deposit:
TermNominal Interest Rate
(in years)(compounded semi-annually)
13 %
24 %
35 %
46 %
The bank requires that interest accumulate at the certificate's interest rate, and does not permit early withdrawal. The certificates mature at the end of the term. During the next six years, the bank will continue to offer these certificates of deposit. Jeff invests $ 1500 in the bank. Calculate the maximum amount he can withdraw at the end of six years.
Maximim after six years = $