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Cassandra invested $2,100 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at
Cassandra invested $2,100 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at a rate of 3.30% compounded semi-annually and for the next 3 years it earned interest at a rate of 6.60% compounded semi-annually.
Cassandra invested $2,100 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at a rate of 3.30% compounded semi- annually and for the next 3 years it earned interest at a rate of 6.60% compounded semi-annually. a. Calculate the accumulated value of his investment at the end of the first 8 years. $60,739.58 $61,191.23 a. Calculate the accumulated value of his investment at the end of the first 8 years. $60,739.58 $61,191.23 $38,096.04 $38,724.62 b. Calculate the accumulated value of her investment at the end of 11 years. b. Calculate the accumulated value of her investment at the end of 11 years. $60,739.58 $61,191.23 $52,862.66 $38,724.62 $38,724.62 C. Calculate the amount of interest earned from the investment. $14,991.23 O $14,539.58 $13,453.19 $1,538.04Step by Step Solution
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