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On July 26th, 2013, Joseph invested $12,000 in a fund that was growing at 6% compounded semi-annually. a. Calculate the future value of the fund

On July 26th, 2013, Joseph invested $12,000 in a fund that was growing at 6% compounded semi-annually.

a. Calculate the future value of the fund on February 18th, 2014.

Round to the nearest cent

b. On February 18th, 2014, the interest rate on the fund changed to 3% compounded monthly. Calculate the future value of the fund on December 22nd, 2014.

Round to the nearest cent

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