Find the accumulated value of the resp

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Since the birth of his granddaughter, 17 years ago, Nathan has deposited $200 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.25% compounded monthly for the first 10 years and 4.00% compounded monthly for the next 7 years.

a. What was the accumulated value of the RESP at the end of 10 years?

b. What was the accumulated value of the RESP at the end of 17 years?

c. What was the amount of interest earned over the 17-year period?

Reference no: EM132867833

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