Juliana has contributed $1,958.00 every six months for the last 11 years into an RRSP fund. The interest earned by these deposits was 6% compounded semi-annually for the first 4 years and 8% compounded semi-annually for the last 7 years. How much money is currently in the RRSP? The balance is $ (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Juliana has contributed $1,958.00 every six months for the last 11 years into an RRSP fund. The interest earned by these deposits was 6% compounded semi-annually for the first 4 years and 8% compounded
semi-annually for the last 7 years. How much money is currently in the RRSP?
The balance is $.
(Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.)
Transcribed Image Text:Juliana has contributed $1,958.00 every six months for the last 11 years into an RRSP fund. The interest earned by these deposits was 6% compounded semi-annually for the first 4 years and 8% compounded semi-annually for the last 7 years. How much money is currently in the RRSP? The balance is $. (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.)
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