Red Company invested $20,000 in a fund that was earning interest at a rate of 5.00% compounded semi-annually. After 2 years and 9 months, the company transferred these funds to another investment that was earning interest at 2.50% compounded monthly.

a. What is the balance in the fund at the end of 2 years and 9 months?

Round to the nearest cent

b. What is the balance in the fund at the end of 5 years (from the initial investment)?

Round to the nearest cent

c. By what amount did the fund grow during the 5 year period?