Question
Hi, i need these soon , please help me Since the birth of his granddaughter, 19 years ago, Ali has deposited $150 at the beginning
Hi, i need these soon , please help me
Since the birth of his granddaughter, 19 years ago, Ali has deposited $150 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.50% compounded monthly for the first 11 years and 4.25% compounded monthly for the next 8 years.
a. What was the accumulated value of the RESP at the end of 11 years?
Round to the nearest cent
b. What was the accumulated value of the RESP at the end of 19 years?
Round to the nearest cent
c. What was the amount of interest earned over the 19-year period?
Round to the nearest cent
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