Daniel invested $1,700 at the beginning of every 6 months in an RRSP for 11 years. For the first 4 years it earned inter
Posted: Mon Jul 11, 2022 10:27 am
Daniel invested $1,700 at the beginning of every 6 months in anRRSP for 11 years. For the first 4 years it earned interest at arate of 3.80% compounded semi-annually and for the next 7 years itearned interest at a rate of 6.70% compounded semi-annually.
a. Calculate the accumulated value of herinvestment at the end of the first 4 years.
$53,245.67
$54,242.15
$14,539.60
$14,815.85
b. Calculate the accumulated value of herinvestment at the end of 11 years.
$53,245.67
$54,242.15
$45,557.71
$14,815.85
c. Calculate the amount of interest earnedfrom the investment.
$16,842.15
$15,845.67
$9,900.29
$6,941.86
a. Calculate the accumulated value of herinvestment at the end of the first 4 years.
$53,245.67
$54,242.15
$14,539.60
$14,815.85
b. Calculate the accumulated value of herinvestment at the end of 11 years.
$53,245.67
$54,242.15
$45,557.71
$14,815.85
c. Calculate the amount of interest earnedfrom the investment.
$16,842.15
$15,845.67
$9,900.29
$6,941.86