Question
2. Allison deposited $1,000 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.25% compounded semi-annually for
2.Allison deposited $1,000 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.25% compounded semi-annually for the first 5 years and changed to 4.50% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 8 years?
Please do not round, add all the decimals
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
13th Edition
978-0134083308, 013408330X
