Problem 2: An RRSP is an investment offered by many financial institutions. In a particular RRSP, which is compounded monthly, the amount in dollars (A) in the RRSP after n months is given by the equation A = 5000(1.005)" Answer the following questions: 1. What is the principal of the investment? 2. What is the amount in the RRSP after 3 years? 3. What is the amount in the RRSP after 5.5 years?

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