Calculate the amount of interest earned from the investment

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Helen invested $1,900 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 5.60% compounded semi-annually.

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

Option 1: $54,305.98

Option 2: $54,648.38

Option 3: $35,005.05

Option 4: $35,652.65

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

Option 1: $54,305.98

Option 2: $54,648.38

Option 3: $48,223.47

Option 4: $35,652.65

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

Option 1: $12,848.38

Option 2: $12,505.98

Option 3: $11,677.56

Option 4: $1,170.82

Reference no: EM132575749

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