Question $5(2$ points$)$

You plan on retiring in $3$ years and would like to receive $$1,491$ from your RRSP at

the end of every six months for $11$ years during your retirement. You want to receive

your first payment on the day you retire. Your RRSP earns $3\mathrm{.}5\%$ compounded

quarterly.

How much money do you need to invest in your RRSP today? Enter your

answer in blank #$1.($Round your answer to $2$ decimal places and include the $

sign. Enter your answer in the form $$1,234\mathrm{.}56.)$

How much interest will you receive from the RRSP$?$ Enter your answer in

blank #$2.($Round your answer to $2$ decimal places and include the $ sign.

Enter your answer in the form $$1,234\mathrm{.}56.)$

Blank # $1$

Blank # $2$