Today is 1/7/2023, John plans to deposit $500 at the beginning of each month into an investment fund. The first deposit will be deposited today. John predicts that the return rate of this fund will be j2=4.81% from 1/7/2023 to 30/9/2023 and j₂-3.91% from 1/10/2023 to 31/12/2023.What will be the balance amount of this account on 31/12/2023? Round your answer to three decimal places.a. 3036.682b. 3035.842O c. 3037.723O d. 3036.363

Answered: Today is 1/7/2023, John plans to…

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

Problem 1PS

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