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Calculate the amount by which the fund grew

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Question - Mahogany Company invested $130,000 in a fund at an interest rate of 8% p.a. compounded annually for 15 months, then transferred the funds to another investment that was yielding 11.5% p.a. compounded quarterly. Calculate the amount by which the fund grew by the end of 2 years and 3 months from their initial investment.

Reference no: EM133094603

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