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Calculate the accumulated value of investment at the end

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Reference no: EM132940629

Courtney invested $1,700 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 3.70% compounded semi-annually and for the next 3 years it earned interest at a rate of 6.30% compounded semi-annually.

Question a. Calculate the accumulated value of his investment at the end of the first 8 years.

Option 1: $49,461.79
Option 2: $49,809.48
Option 3: $31,320.31
Option 4: $31,899.74

Question b. Calculate the accumulated value of her investment at the end of 11 years.

Option 1: $49,461.79
Option 2: $49,809.48
Option 3: $43,285.22
Option 4: $31,899.74

Question c. Calculate the amount of interest earned from the investment.

Option 1: $12,409.48
Option 2: $12,061.79
Option 3: $11,224.00
Option 4: $1,185.48

Reference no: EM132940629

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