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Since the birth of her daughter, 20 years ago, Justin has deposited $100 at the beginning of every month into a Registered Education Savings Plan
Since the birth of her daughter, 20 years ago, Justin has deposited $100 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.30% compounded monthly for the first 10 years and 3.60% compounded monthly for the next 10 years. a. What would be the accumulated value of the RESP at the end of 10 years? Round to the nearest cent b. What would be the accumulated value of the RESP at the end of 20 years? Round to the nearest cent c. What is the amount of interest earned during the 20 year period? Round to the nearest cent
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Emerging Markets And The Global Economy A Handbook
Authors: Mohammed El Hedi Arouri, Sabri Boubaker, Duc Khuong Nguyen
1st Edition
0124115497, 978-0124115491
