Amy opened an RRSP account and deposited $1,000 into it. She then deposited $600 at the end of the 1st year and $625 at the end of the 2nd year, into the account. The RRSP was earning 2.20% compounded quarterly.a. What is the accumulated value of the investments at the end of the 2nd year?rounded to two decimal placesb. What is the accumulated value of the investment at the end of 8 years? small telecommunications company invested its 2010 net income of $561,400 in a savings account for 4 years and 4 months. Money was earning interest at a rate of 7.25% compounded monthly.a. Calculate the amount it would have in this account at the end of the period.rounded to two decimal placesb. Calculate the interest earned.rounded to two decimal places
Amy opened an RRSP account and deposited $1,000 into it. She then deposited $600 at the end of the 1st year and $625 at the end of the 2nd year, into the account. The RRSP was earning 2.20% compounded quarterly.
a. What is the accumulated value of the investments at the end of the 2nd year?
rounded to two decimal places
b. What is the accumulated value of the investment at the end of 8 years?
small telecommunications company invested its 2010 net income of $561,400 in a savings account for 4 years and 4 months. Money was earning interest at a rate of 7.25% compounded monthly.
a. Calculate the amount it would have in this account at the end of the period.
rounded to two decimal places
b. Calculate the interest earned.
rounded to two decimal places
Step by step
Solved in 1 steps
