Ronny had a balance of $2000 in his RRSP. In addition to this, he invested $1000 at
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Ronny had a balance of $2000 in his RRSP. In addition to this, he invested $1000 at the end of every six months for 5 years and 6 months. If his RRSP earned 4% compounded semi-annually for the first two years and 4.25% compounded semi-annually for the rest of the period, how much did he have in the RRSP at the end of the time period? What were his total earnings?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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