Alicia invested $1,700 at the beginning of every 6 months in an RRSP for 11...
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Alicia invested $1,700 at the beginning of every 6 months in an RRSP for 11 years. For the first 9 years it earned interest at a rate of 4.50% compounded semi-annually and for the next 2 years it earned interest at a rate of 5.30% compounded semi-annually.
a. Calculate the accumulated value of her investment at the end of the first 9 years.
$49,327.24
$49,514.73
$37,217.70
$38,055.09
b. Calculate the accumulated value of her investment at the end of 11 years.
$49,327.24
$49,514.73
$45,317.69
$38,055.09
c. Calculate the amount of interest earned from the investment.
$12,114.73
$11,927.24
$11,652.13
$462.60
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