Morgan invested $1,600 at the beginning of every 6 months in an RRSP for 11 years. For the first 7 years it earned inter

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answerhappygod
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Morgan invested $1,600 at the beginning of every 6 months in an RRSP for 11 years. For the first 7 years it earned inter

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Morgan invested $1,600 at the beginning of every 6 months in anRRSP for 11 years. For the first 7 years it earned interest at arate of 4.70% compounded semi-annually and for the next 4 years itearned interest at a rate of 5.50% compounded semi-annually.
a. Calculate the accumulated value of hisinvestment at the end of the first 7 years.
b. Calculate the accumulated value of herinvestment at the end of 11 years.
c. Calculate the amount of interest earnedfrom the investment.
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