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Gold Inc. invests $10,000 today in a mutual fund. Gold anticipates leaving this fund alone for 12 years. The fund is increased each year-end by
Gold Inc. invests $10,000 today in a mutual fund. Gold anticipates leaving this fund alone for 12 years. The fund is increased each year-end by specified compound interest rates as follows: years 1 to 4 inclusive, 8%; 5 to 8 inclusive, 9%; and 9 to 12 inclusive, 10%. Compute the fund balance at the end of year 12.
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