Question
1.Jack has made semi annyal deposits of $500 for 5 years into an investmeny fund growing at i(2)=3.25%.what semia annual for the next 2 years
1.Jack has made semi annyal deposits of $500 for 5 years into an investmeny fund growing at i(2)=3.25%.what semia annual for the next 2 years will bring the fund up to 10.000
2. Mr janeau has deposits $800 at the end if each year into RRSP investment fund for the last 10 years. His investment earned i(1)=4% for the first 7 years and i(1)=6% for the last 3 years. How much money does he have in his account 10 years after his last deposit if rates of return have remained at level i(1)=6%
please write a detail step so i can understand
3. is avarge annual growth same with annual effective rate ??
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