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Richard invested $1,900 at the beginning of every 6 months in an RRSP for 11 years. For the first 6 years it earned interest at
Richard invested $1,900 at the beginning of every 6 months in an RRSP for 11 years. For the first 6 years it earned interest at a rate of 3.40% compounded semi-annually and for the next 5 years it earned interest at a rate of 5.50% compounded semi-annually.
A. Calculate the accumulated value of his investment at the end of the first 6 years.
B. Calculate the accumulated value of her investment at the end of 11 years.
C. Calculate the amount of interest earned from the investment.
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