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Solve the accumulated value of investment at the end

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Reference no: EM132941020

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.

Problem 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

Problem 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

Problem 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

Reference no: EM132941020

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