Calculate the accumulated balance in her investment fund

Reference no: EM133291009

Case: Courtney invested $1,100 at the end of every month into an investment fund that was earning interest at 5.75% compounded monthly. She stopped making regular deposits at the end of 8 years when the interest rate changed to 6.00% compounded quarterly. However, she let the money grow in this investment fund for the next 5 years.

Question 1: Calculate the accumulated balance in her investment fund at the end of 8 years. (Round to the nearest cent)

Question 2: Calculate the accumulated balance in her investment fund at the end of 13 years. (Round to the nearest cent)

Question 3: Calculate the amount of interest earned over the 13-year period. (Round to the nearest cent)

Reference no: EM133291009

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