Question 1 (6 marks)

Mr. Clark made deposits of $950 at the end of every 6 months for 15 years. If interest is 3% compounded monthly and if he leaves the accumulated balance for another 10 years, what will be the balance in his account then? (i.e. 10 years after the last deposit) _______________

How much of the accumulated amount is interest? _____________

Show calculations and calculator inputs