Since the birth of her daughter, 15 years ago, Kelsey has deposited $150 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.50% compounded monthly for the first 8 years and 4.70% compounded monthly for the next 7 years. a. What would be the accumulated value of the RESP at the end of 8 years?   Round to the nearest cent b. What would be the accumulated value of the RESP at the end of 15 years?   Round to the nearest cent c. What is the amount of interest earned during the 15 year period?   Round to the nearest cent

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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Since the birth of her daughter, 15 years ago, Kelsey has deposited $150 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.50% compounded monthly for the first 8 years and 4.70% compounded monthly for the next 7 years.
a. What would be the accumulated value of the RESP at the end of 8 years?
 
Round to the nearest cent
b. What would be the accumulated value of the RESP at the end of 15 years?
 
Round to the nearest cent
c. What is the amount of interest earned during the 15 year period?
 
Round to the nearest cent
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