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What was the accumulated value of the resp at the end

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Since the birth of his granddaughter, 17 years ago, Alexander has deposited $100 at the beginning of every month into registered Education savings plan (RESP). The interest rate on the plan was compounded monthly for the first 10 years and 5.25% compounded monthly for the next 7 years.

(Round to the nearest cent)

Question A) What was the accumulated value of the RESP at the end of 10 years?

Question B) What was the accumulated value of the RESP at the end of 17 years?

Question C) What was the amount of interest earned over 17 years period?

Reference no: EM132571098

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