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M r. and Mrs. Fox have each contributed $1235.00 per year for the last eight years...

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Advance Math

M r. and Mrs. Fox have each contributed $1235.00 per year forthe last eight years intoRRSP accounts earning 4.3% compoundedannually. Suppose they leave theiraccumulated contributions foranother five years in the RRSP at the same rate of interest.

a) How much will Mr. and Mrs. Fox have in total in their RRSPaccounts?

b) How much did the Fox's contribute?

c) How much will be interest?

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