An investment of 1200 is made into a fund at time 0 . The fund develops the following balances over the next four years. If 100 is invested at time 1, under the same interest rate environment, find the accumulated value of the 100 at time 4 to the nearest cent. Answer: Given a fund with the following effective rates: i3=.05 and i4=.035, what is the accumulated value at the end of year 4 for 2,000 invested in this fund at the beginning of year 3 (time =2 )? (nearest cent)