1) What is the accumulated value of periodic deposits of $4,000 made into an investment fund at the beginning of every quarter, for 6 years, if the interest rate is 2.50% compounded quarterly?

2) Zhang invested $1,700 at the beginning of every 6 months in an RRSP for 11 years. For the first 5 years, it earned interest at a rate of 3.10% compounded semi-annually and for the next 6 years it earned interest at a rate of 6.50% compounded semi-annually?

a. Calculate the accumulated value of his investment at the end of the first 5 years.

$51,654.72

$52,450.05

$18,236.12

$18,518.78

b. Calculate the accumulated value of her investment at the end of 11 years.

$51,654.72

$52,450.05

43,786.10

$18,518.78

c. Calculate the amount of interest earned from the investment.

$15,050.05

$14,254.72

$10,182.73

$4,867.32

3) Since the birth of his daughter, 19 years ago, Brooke has deposited $75 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.90% compounded monthly for the first 10 years and 3.80% compounded monthly for the next 9 years

a. What would be the accumulated value of the RESP at the end of 10 years?

b. What would be the accumulated value of the RESP at the end of 19 years?

c. What is the amount of interest earned during the 19 year period?