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Mr. Nowak has contributed $106.00 at the end of each month into an RRSP paying 3% per annum compounded annually. 1) How much will Mr.

Mr. Nowak has contributed $106.00 at the end of each month into an RRSP paying 3% per annum compounded annually.

1) How much will Mr. Nowak have in the RRSP after 15 years?

2) How much of the above amount isinterest?

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