Investments were made at the end of every six months for five years in a fund that had an interest rate of 5% compounded semi-annually.

a. If the investment amount was $1000, calculate the accumulated amount in the fund.

b. If the starting investment amount was $1000 and it was increased by 1% thereafter every six months, calculate the accumulated amount in the fund.

c. What was the total amount of interest earned in the constant-growth fund?

AppendixLO1