Anika invested $1,700 at the beginning of every 6 months in an RRSP for 11 years. For the first 7 years it earned interest at a rate of 3.80% compounded semi-annually and for the next 4 years it earned interest at a rate of 6.20% compounded semi-annually.
a. Calculate the accumulated value of her investment at the end of the first 7 years. Use python

The accumulated value of Anika's investment at the end of the first 7 years is approximately $27,487.34.

Would you like more details or have any questions? Here are five additional questions you might ask:

1. How is the future value of an annuity due calculated?
2. Why is the interest rate divided by 2 in the calculation?
3. What is the difference between compounding annually and semi-annually?
4. How does the change in interest rate affect the future value calculation?
5. Can you explain how to calculate the future value for different periods with different interest rates?

**Tip:** Always ensure you use the correct formula based on whether the annuity payments are made at the beginning (annuity due) or the end (ordinary annuity) of the period. This impacts the final accumulated value.

Learn how to calculate the accumulated value of an investment with compound interest over specific periods. This problem involves Anika's investment in an RRSP, earning interest at different rates compounded semi-annually for 11 years. Get step-by-step guidance and formulas used in the calculation.

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