Mr.

Smith

has contributed

$157.00

at the end of each

month

into an RRSP paying

5%

per annum compounded annually.

Question content area bottom

Part 1

How much will Mr.

Smith

have in the RRSP after

12

years?

$enter your response here

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Part 2

How much of the above amount is interest?

$enter your response here

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)