George invested $1,200 at the end of every month into an RRSP for 8 years. The interest rate earned was 5.7% compounded semi-annually for the first 5 years and changed to 4.5% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 8 years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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George invested $1,200 at the end of every month into an RRSP for 8 years. The interest rate earned was 5.7% compounded semi-annually for the first 5 years and changed to 4.5% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 8 years? 

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