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. 3036.682 b. 3035.842 O c. 3037.723 O d. 3036.363

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
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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. 3036.682
b. 3035.842
O c. 3037.723
O d. 3036.363
Transcribed Image Text: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. 3036.682 b. 3035.842 O c. 3037.723 O d. 3036.363
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