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Sophie had a balance of $2,750 in her RRSP. In addition to this, she invested $400 at the end of every 3 months for 7
Sophie had a balance of $2,750 in her RRSP. In addition to this, she invested $400 at the end of every 3 months for 7 years. Her RRSP earned 4.00% compounded quarterly for the first 3 years and 6.00% compounded quarterly for the rest of the period. a. What is the accumulated value of the balance of $2,750 at the end of the time period? Round to the nearest cent b. What is the accumulated value of the annuity at the end of the first 3 years? Round to the nearest cent c. What is the future value of the accumulated value from (b) at the end of the 7 years? Round to the nearest cent d. What is the accumulated value of the $400.00 annuity for the next 4 years at 6.00% compounded quarterly? Round to the nearest cent
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