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Brandon invested money in a mutual fund for six years. The interest rate on the mutual fund was 5% compounded quarterly for the first four
Brandon invested money in a mutual fund for six years. The interest rate on the mutual fund was 5% compounded quarterly for the first four years and 3% compounded semi-annually for the next two years. At the end of the six years, Brandon's mutual fund had accumulated to $36,303.50. a. Calculate the amount that was in the mutual fund after the first four years when the interest rate changed. Round to the nearest cent b. Calculate the amount that was invested in the mutual fund at the beginning of the period
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