Fifteen years ago, you deposited $12,500 into an investment

fund. Five years ago, you added an additional $20,000 to that account. You

earned 8%, compounded semi-annually, for the first ten years, and 6.5%,

compounded annually, for the last five years. Required:

a. What is the effective annual interest rate (EAR) you would get for your

investment in the first 10 years?

b. How much money do you have in your account today?

c. If you wish to have $85 000 now, how much should you have invested 15

years ago?