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Question: Anna invested $2,200 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at a rate of 3.90% compounded semi-annuallv and for the next 3 years it earned interest at a rate of 6.50% compounded semi-annually.
a. Calculate the accumulated value of her investment after the first 8 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.
On January 1, 2015, Garrett purchased a new cutting machine for $235,000, what will be the book value of the equipment on December 31, 2016
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