Red Company invested $20,000 in a fund that was earning interest at a rate of 3.00% compounded semi-annually. After 2 years and 9 months, the company transferred these funds to another investment that was earning interest at 5.50% compounded monthly. a. What is the balance in the fund at the end of 2 years and 9 months? $21,706.67 Round to the nearest cent b. What is the balance in the fund at the end of 6 years (from the initial investment)?

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