Question

Mr. Jones deposited $800 at the end of each year into a RRSP investment fund for the last 10 years. His investment earned 10% compounded annually for the first 7 years and 9% compounded annually for the last 3 years. How much money will he have in his account 10 years after his last deposit if the interest rate remains at 9% compounded annually?

Answer #1

Sophie deposited $1,300 at the end of every month into an RRSP
for 9 years. The interest rate earned was 4.50% compounded
semi-annually for the first 3 years and changed to 4.75% compounded
monthly for the next 6 years. What was the accumulated value of the
RRSP at the end of 9 years?
( Pls give me solution too ) thank you <3

Ali deposited $1,400 at the end of every month into an RRSP for
8 years. The interest rate earned was 4.75% compounded
semi-annually for the first 4 years and changed to 5.00% compounded
monthly for the next 4 years. What was the accumulated value of the
RRSP at the end of 8 years?

David deposited $500 at the end of every month into an RRSP for
8 years. The interest rate earned was 4.75% compounded
semi-annually for the first 2 years and changed to 5.00% compounded
monthly for the next 6 years. What was the accumulated value of the
RRSP at the end of 8 years?

Fifteen years ago, you deposited $12,500 into an investment
fund. Five years ago, you added an additional $20,000 to that
account. You earned 8%, compounded semi-annually, for the first ten
years, and 6.5%, compounded annually, for the last five years.
Required:
a) What is the effective annual interest rate (EAR) you would
get for your investment in the first 10 years?
b) How much money do you have in your account today?
c) If you wish to have $85,000 now,...

Fifteen years ago, you deposited $12,500 into an investment
fund. Five years ago, you added an additional $20,000 to that
account. You earned 8%, compounded semi-annually, for the first ten
years, and 6.5%, compounded annually, for the last five years.
Required: 1. a) What is the effective annual interest rate (EAR)
you would get for your investment in the first 10 years?
2. b) How much money do you have in your account today?
3. c) If you wish to...

Mr. Gonzales has made beginning-of-year deposits into an
investment account for the past 21 years. Each deposit was $5500,
and the account earned interest at a rate of 4.5% APR, compounded
quarterly, each year. Having made his last deposit one year ago, he
now plans to transfer all of the accumulated funds today into a
money-market account that earns an APR of 1.50% compounded
quarterly. If he plans to withdraw $4000 from the account at the
end of each quarter...

Richard deposit $800 at end of every 3 months in an
rrsp that is earning 5.10% compounded semi annually. for the RRSP
to accumlate to $33000? calculate how many deposit will he have to
make and long he will have to make these deposit?

George contributed $3500 per year for
seven years into an RRSP account earning 5.94% compounded
semi-annually.After the seven years, he stopped the contributions,
but left the money in the RRSP for another five years, still at
5.94%compounded semi-annually.
How much does George have in his account at the end of this
twelve year period?
b) How
much interest was earned over the 12 year period?

3. George contributed $3500 per year for seven years into an
RRSP account earning 5.94% compounded semi-annually.
After the seven years, he stopped the
contributions, but left the money in the RRSP for another five
years, still at 5.94% compounded semi-annually.
a) How much does George have in his account at the end of this
twelve year period?
b) How much interest was earned over the 12 year period?
*Please use financial calculator method and show the
values being entered...

You deposit $3,000 in a fund at the end of each year for 12
years. The fund pays 5% compounded annually. How much money is
available to withdraw immediately after your last deposit?

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