Question
1.Meghan 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
1.Meghan 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 4.20% compounded semi-annually and for the next 6 years it earned interest at a rate of 6.60% compounded semi-annually. a. Calculate the accumulated value of her investment after the first 5 years. $0.00 Round to the nearest cent b. Calculate the accumulated value of her investment at the end of 11 years. $0.00 Round to the nearest cent c. Calculate the amount of interest earned from the investment. $0.00 Round to the nearest cent
2.Jennifer secured a 6-year car lease at 5.60% compounded annually that required her to make payments of $883.70 at the beginning of each month. Calculate the cost of the car if she made a downpayment of $1,750. Round to the nearest cent
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