4) $6,000 was deposited into a mutual fund that yielded 6.5% compounded semi-annually for the first 21 months and then only 4.6% compounded quarterly for the next 2 3/4 years. How much was the fund worth in 4.5 years? (Use timeline)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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4) $6,000 was deposited into a
mutual fund that yielded 6.5%
compounded semi-annually for the
first 21 months and then only 4.6%
compounded quarterly for the next 2
3/4 years. How much was the fund
worth in 4.5 years? (Use timeline)
Transcribed Image Text:4) $6,000 was deposited into a mutual fund that yielded 6.5% compounded semi-annually for the first 21 months and then only 4.6% compounded quarterly for the next 2 3/4 years. How much was the fund worth in 4.5 years? (Use timeline)
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