Question
Leah deposited $400 at the end of every month into an RRSP for 8 years. The interest rate earned was 3.75% compounded semi-annually for the
Leah deposited $400 at the end of every month into an RRSP for 8 years. The interest rate earned was 3.75% compounded semi-annually for the first 2 years and changed to 4.00% compounded monthly for the next 6 years.
What was the accumulated value of the RRSP at the end of 8 years? round to the nearest cent
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Intermediate Financial Theory
Authors: Jean-Pierre Danthine, John B. Donaldson
2nd Edition
0123693802, 978-0123693808
