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Quarterly contributions of $1000 will be made to an RESP for 15 years. Assuming that the investments within the plan grow at 8% compounded quarterly,
| Quarterly contributions of $1000 will be made to an RESP for 15 years. | ||
| Assuming that the investments within the plan grow at 8% compounded quarterly, how much will the RESP be worth after 15 years if the contributions are made: | ||
| a. | At the end of each quarter? (Do not round intermediate calculations and round your final answer to 2 decimal places.) | |
| FV | $ | |
| b. | At the beginning of each quarter? (Do not round intermediate calculations and round your final answer to 2 decimal places.) | |
| FV(due) | $ | |
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