1) Randy opened an RRSP deposit account on December 1, 2008, with a deposit of $1700. He added $1700 on April 1, 2010, and $1700 on May 1, 2012. How much is in his account on July 1, 2016, if the deposit earns 6.5% p.a. compounded monthly?

2) What sum of money will grow to $4927.82 in seven years at 9.1% compounded semi-annually?

3) Scheduled payments of $1088, $586, and $412 are due in one-and-a-half years, four-and-a-half years, and five years respectively. What is the equivalent single replacement payment two-and-a-half years from now if interest is 9.7% compounded annually?

4) The Continental Bank advertises capital savings at 7.5% compounded annually while TD Canada Trust offers premium savings at 7.25% compounded monthly. Suppose you have $2000 to invest for two years.

(a) Which deposit will earn more interest?

(b) What is the difference in the amount of interest?