Reference no: EM133038377

Question - Christine invested $2,100 at the beginning of every 6 months in an RRSP for 11 years. For the first 7 years it earned interest at a rate of 4.80% compounded semi-annually and for the next 4 years it earned interest at a rate of 5.50% compounded semi-annually.

a. Calculate the accumulated value of his investment at the end of the first 7 years.

a) $62,345.43

b) $62,854.43

c) $34,457.20

d) $35,284.17

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

a) $62,345.43

b) $62,854.43

c) $54,302.23

d) $35,284.17

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

a) $16,654.43

b) $16,145.43

c) $14,436.37

d) $2,218.06