Josef invested $500 into an RRSP that earned interest at 7.5% compounded quarterly for four years. (a) Find the balance of the account at the end of the period. (b) How much interest is earmed? (c)...


Josef invested $500 into an RRSP that earned interest at 7.5% compounded quarterly for four years.<br>(a) Find the balance of the account at the end of the period.<br>(b) How much interest is earmed?<br>(c) What is the offective rate of interest?<br>(a) The balance of the account at the end of the period is $<br>(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)<br>(b) The amount of interest eamed is $.<br>(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)<br>(c) The effective rate of interest is %.<br>(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)<br>

Extracted text: Josef invested $500 into an RRSP that earned interest at 7.5% compounded quarterly for four years. (a) Find the balance of the account at the end of the period. (b) How much interest is earmed? (c) What is the offective rate of interest? (a) The balance of the account at the end of the period is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The amount of interest eamed is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The effective rate of interest is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

Jun 08, 2022
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