Calculate the amount by which the fund grew

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Reference no: EM132056436

Westin Lord Braking Company invested $150,650 in a fund at an interest rate of 11% compounded monthly. At the end of 5 months, the company's investment advisor transferred these funds to another investment that was yielding 13% compounded monthly. Calculate the amount by which the fund grew at the end of 15 months from the initial investment.

Reference no: EM132056436

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