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Jeremy invested $2,200 at the beginning of every 6 months in an RRSP for 11 years. For the first 6 years it earned interest at
Jeremy invested $2,200 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 6.40% compounded semi-annually. a. Calculate the accumulated value of his investment at the end of the first 6 years. $67,242.54 $68,057.07 $29,840.67 $30,497.17 b. Calculate the accumulated value of her investment at the end of 11 years. $67,242.54 $68,057.07 $56,765.77 $30,497.17 c. Calculate the amount of interest earned from the investment. $19,657.07 $18,842.54 $15,388.47 $4,268.60
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