Alexis deposited $1,000 at the end of every month into an RRSP for 7 years. The...

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Alexis deposited $1,000 at the end of every month into an RRSP for 7 years. The interest rate earned was 3.50% compounded semi-annually for the first 3 years and changed to 3.75% compounded monthly for the next 4 years. What was the accumulated value of the RRSP at the end of 7 years? Round to the nearest cent Alexis deposited $1,000 at the end of every month into an RRSP for 7 years. The interest rate earned was 3.50% compounded semi-annually for the first 3 years and changed to 3.75% compounded monthly for the next 4 years. What was the accumulated value of the RRSP at the end of 7 years? Round to the nearest cent

Answer rating: 100% (QA)

Six month interest rate 175 Period 3 years 6 semiannual Six month deposit 6000 Future value factor1... View the full answer