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A) Mr. Merkel has contributed $96.00 at the end of each six months into an RRSP paying 3% per annum compounded annually. Part 1 How

A) Mr. Merkel has contributed $96.00 at the end of each six months into an RRSP paying 3% per annum compounded annually.

Part 1 How much will Mr. Merkel have in the RRSP after 10 years? How much of the above amount is interest?

B) Find the future value of the following ordinary annuity.

Periodic Payment	Payment Interval	Term	Interest Rate	Conversion Period
$2270	1 month	9 years	7%	Quarterly

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