Peter invested $1,600 at the beginning of every 6 months in an RRSP for 11 years. For the first 7 years it earned interest at a rate of 4.10% compounded semi-annually and for the next 4 years it earned interest at a rate of 5.60% compounded semi-annually.

a. Calculate the accumulated value of his investment at the end of the first 7 years.

$46,766.60

$47,162.16

$25,643.94

$26,169.64

b. Calculate the accumulated value of her investment at the end of 11 years.

$46,766.60

$47,162.16

$40,692.36

$26,169.64

c. Calculate the amount of interest earned from the investment.

$11,962.16

$11,566.60

$10,239.44

$1,722.72