Find the interest earned in the fund

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Reference no: EM131954764

Novia deposits $1.000 into her bank account at the beginning of every year The bank credits annual interest of 6%. At the end of every year, she takes out the interest earned from the bank account and puts it into an investment fund which earns 3% every half year. Find the interest earned in the fund during the first half of the ninth year.

Reference no: EM131954764

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