Question
Steven deposited $1,300 at the end of every month into an RRSP for 8 years. The interest rate earned was 3.50% compounded semi-annually for the
Steven deposited $1,300 at the end of every month into an RRSP for 8 years. The interest rate earned was 3.50% compounded semi-annually for the first 4 years and changed to 3.75% compounded monthly for the next 4 years. What was the accumulated value of the RRSP at the end of 8 years?
Round to the nearest cent
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Financial Algebra advanced algebra with financial applications
Authors: Robert K. Gerver
1st edition
978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670
