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 ba ance at the end of year 12

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4. 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. 4. 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.

Answer rating: 100% (QA)

To compute the fund balance at the end of year 12 we can use the compound interest formula The formu... View the full answer