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Since the birth of his daughter, 19 years ago, Samuel has deposited $100 at the beginning of every month into a Registered Education Savings Plan

Since the birth of his daughter, 19 years ago, Samuel has deposited $100 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 5.70% compounded monthly for the first 9 years and 5.20% compounded monthly for the next 10 years.

a. What would be the accumulated value of the RESP at the end of 9 years?

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