1. Nicholas invested $80 at the end of every month into an RRSP for 5 years. If the RRSP was growing at 3.60% compounded quarterly, how much did he have in the RRSP at the end of the 5-year period?

2. Inch Inc. took a loan of $1,500,000 to build a new office. Calculate the quarterly compounding interest rate charged on the loan if $42,058.28 was repaid at the beginning of every 6 months and the loan was paid off in 28 years.

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