Suppose you invest in a fund which
.
• compounds at a rate of 1% at the end of every odd-numbered month (January, March, May, July.
September, November), and
.
• compounds at a rate of 3% at the end of every even-numbered month (February, April, June, August.
October, December).
How much do you need to invest on January 1st so that you have $1000 by June 1st of the same year?
