2.

3.

Christine invested $1,800 at the beginning of every 6 months in an RRSP for 11 years. For the first 6 years it earned interest at a rate of 4.40% compounded semi-annually and for the next 5 years it earned interest at a rate of 5.90% compounded semi- annually. a. Calculate the accumulated value of his investment after the first 6 years. Round to the nearest cent b. Calculate the accumulated value of his investment at the end of 11 years. Round to the nearest cent c. Calculate the amount of interest earned from the investment. Round to the nearest cent For 21 years, Janet saved $1,100 at the beginning of every month in a fund that earned 4.5% compounded annually. a. What was the balance in the fund at the end of the period? Round to the nearest cent b. What was the amount of interest earned over the period? Round to the nearest cent