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. Jordan invested her savings into a Registered Retirement Savings Plan (RRSP) at an interest rate of 2.25% compounded semi-annually. After one year, her investment
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Jordan invested her savings into a Registered Retirement Savings Plan (RRSP) at an interest rate of 2.25% compounded semi-annually. After one year, her investment grew to $24,600; however, the interest rate on the RRSP changed to 2.50% compounded quarterly and remained constant for the next two years. a. Calculate the original amount she invested into the RRSP. $ Round to the nearest cent b. Calculate the accumulated value of the investment at the end of three years (two years after the rate drop). $ Round to the nearest centStep by Step Solution
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