What is the accumulated value of periodic deposits of $5,000 made into an investment fund at the beginning of every six months, for 5 years, if the interest rate is 2.25% compounded semi-annually? Round to the nearest cent 2. Benjamin invested $1,900 at the beginning of every 6 months in an RRSP for 11 years. For the first 4 years it earned interest at a rate of 4.50% compounded semi-annually and for the next 7 years it earned interest at a rate of 6.90% compounded semi-annually. a. Calculate the accumulated value of his investment at the end of the first 4 years. $60,519.04 $61,673.83 $16,452.41 $16,822.59 b. Calculate the accumulated value of her investment at the end of 11 years. $60,519.04 $61,673.83 $51,449.38 $16,822.59 c. Calculate the amount of interest earned from the investment. $19,873.83 $18,719.04 $11,847.04 $8,026.79
1. What is the accumulated value of periodic deposits of $5,000 made into an investment fund at the beginning of every six months, for 5 years, if the interest rate is 2.25% compounded semi-annually? Round to the nearest cent
2. Benjamin invested $1,900 at the beginning of every 6 months in an RRSP for 11 years. For the first 4 years it earned interest at a rate of 4.50% compounded semi-annually and for the next 7 years it earned interest at a rate of 6.90% compounded semi-annually.
a. Calculate the accumulated value of his investment at the end of the first 4 years.
$60,519.04
$61,673.83
$16,452.41
$16,822.59
b. Calculate the accumulated value of her investment at the end of 11 years.
$60,519.04
$61,673.83
$51,449.38
$16,822.59
c. Calculate the amount of interest earned from the investment.
$19,873.83
$18,719.04
$11,847.04
$8,026.79
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