What is the accumulated value of periodic deposits of $50 at the beginning of every six months for 23 years if the interest rate is 3.18% compounded semi-annually?

1. What is the accumulated value of periodic deposits of $50 at the beginning of every six months for 23 years if the interest rate is 3.18% compounded semi-annually?

2. Cody invested $1,800 at the beginning of every 6 months in an RRSP for 11 years. For the first 6 years it earned interest at a rate of 3.80% compounded semi-annually and for the next 5 years it earned interest at a rate of 5.20% compounded semi-annually.

1. Calculate the accumulated value of her investment at the end of the first 6 years.
2. Calculate the accumulated value of her investment at the end of 11 years.
3. calculate the amount of interest earned from the investment.

3. Starting on the day Dylan was born, her mother has invested $30 at the beginning of every month in a savings account that earns 2.60% compounded monthly.

1. How much did Dylan have in this account on her 17th birthday? Assume that there was no deposit on that day.
2. What was her mother’s total investment?
3. How much interest did the investment earn?

4. For 13 years, Janet saved $850 at the beginning of every month in a fund that earned 3.75% compounded annually.
   1. What was the balance in the fund at the end of the period?
   2. What was the amount of interest earned over the period?

5. A contract requires lease payments of $900 at the beginning of every month for 6 years.
   5. What is the present value of the contract if the lease rate is 5.75% compounded annually?
   6. What is the present value of the contract if the lease rate is 5.75% compounded monthly?

6. Melisa secured a 4-year car lease at 5.30% compounded annually that required her to make payments of $887.03 at the beginning of each month. Calculate the cost of the car if she made a downpayment of $1,500.