1. Jamie Dean contributes $ 125 at the beginning of each month into an RRSP paying interest at 6.5% compounded semi- annually. What will be the accumulated balance in the RRSP at the end of 25 years?
2. Gerald and Marysia bought a property by agreeing to make semi- annual payments of $ 2500 for seven years. If the first payment is due on the date of purchase and interest is 9% compounded quarterly, what is the purchase price of the property?