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Lisa set up a savings plan with BMO whereby he deposits $331 at the end of each quarter for 1 years. Interest throughout the 1-year
Lisa set up a savings plan with BMO whereby he deposits $331 at the end of each quarter for 1 years. Interest throughout the 1-year time period is 1.87% compounded quarterly. The amount in his account at that time will become a term deposit withdrawable after a further 7 years, where interest changes to 1.35% compounded semi-annually. Calculate the total interest earned on the investment. Round your answer to the nearest dollar. Full solution to this problem required in the rough work.
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