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)n
How much interest will the RRSP have earned in one year?
Question 12 options:
a. $5308.39
b. $308.39
c. $25.00
d. $5025.00
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