Question

Glenn has made contributions of​ $250 at the end of every three months into an RRSP...

Glenn has made contributions of​ $250 at the end of every three months into an RRSP for ten years. Interest for the first four years was​ 4% compounded quarterly. Since then the interest rate has been​ 5% compounded quarterly. How much will Glenn have in his RRSP three years after the last​ contribution?

Math   Advanced-Math   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sophie made equal deposits at the beginning of every 3 months into an RRSP. At the...
Sophie made equal deposits at the beginning of every 3 months into an RRSP. At the end of 6 years, the fund had an accumulated value of $40,000. If the RRSP was earning 3.25% compounded monthly, what was the size of the quarterly deposits?
Ali made equal deposits at the beginning of every 3 months into an RRSP. At the...
Ali made equal deposits at the beginning of every 3 months into an RRSP. At the end of 8 years, the fund had an accumulated value of $60,000. If the RRSP was earning 4.50% compounded monthly, what was the size of the quarterly deposits?
Lucy made equal deposits at the beginning of every 3 months into an RRSP. At the...
Lucy made equal deposits at the beginning of every 3 months into an RRSP. At the end of 9 years, the fund had an accumulated value of $45,000. If the RRSP was earning 2.50% compounded monthly, what was the size of the quarterly deposits? Round to the nearest cent
Mr. Maillet has contributed ​$81.00 at the end of each three months into an RRSP paying...
Mr. Maillet has contributed ​$81.00 at the end of each three months into an RRSP paying 6% per annum compounded annually.annually. How much will Mr. Maillet have in the RRSP after 12 ​years? How much of the above amount is​ interest?
If RRSP contributions of $4830.02 at the end of every six months are projected to generate...
If RRSP contributions of $4830.02 at the end of every six months are projected to generate a plan worth $680,000 in 25 years, what nominal rate compounded semi-annually and effective rates of return were assumed in the forecast? (Do not round intermediate calculations and round your final answers to 2 decimal places.)   I need the full steps including the graphical calcuation or any method,   Nominal rate of return % Effective rate of return %
Deon makes monthly contributions of $250.00 at the end of every month into an RRSP. Calculate,...
Deon makes monthly contributions of $250.00 at the end of every month into an RRSP. Calculate, to the nearest month, how long it will take to grow to $100 000.00 if interest is 8% compounded annually. ANSWER: __________________________
Ali invested $2,100 at the beginning of every 6 months in an RRSP for 11 years....
Ali invested $2,100 at the beginning of every 6 months in an RRSP for 11 years. For the first 5 years it earned interest at a rate of 3.50% compounded semi-annually and for the next 6 years it earned interest at a rate of 6.40% compounded semi-annually. a. Calculate the accumulated value of his investment at the end of the first 5 years. $63,900.39 $64,865.00 $22,733.34 $23,131.17 b. Calculate the accumulated value of her investment at the end of 11...
Mr. Jones deposited $800 at the end of each year into a RRSP investment fund for...
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?
Ali deposited $1,400 at the end of every month into an RRSP for 8 years. The...
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...
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?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT