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Maria contributed $100 from her paycheque at the beginning ofevery month from age 18 to 65 into RRSP account (no contribution onthe month of her 65-th birthday). Anna contributed $4000 at thebeginning of every year from age 35 to 55 into a similar RRSPaccount, then left the money in the fund to accumulate for another10 years (no contribution in the year of her 55-th birthday). Moneyearned 4.8% compounded daily in both RRSP accounts.(i) Who had a greater accumulated value, and by how much, whenthey retired at age 65?(ii) Calculate how much interest both Maria and Anna earned intheir RRSP accounts, respectively.
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