Morgan opened an RRSP account and deposited $2,800.00 into it. She then deposited $900.00 at the end of the 1st year and $575.00 at the end of the 2nd year, into the account. The RRSP was earning 2.20% compounded quarterly. What is the accumulated value of the investment at the end of 8 years ? Round to the nearest cent

Morgan opened an RRSP account and deposited $2,800.00 into it. She then deposited $900.00 at the end of the 1st year and $575.00 at the end of the 2nd year, into the account. The RRSP was earning 2.20% compounded quarterly. What is the accumulated value of the investment at the end of 8 years ? Round to the nearest cent

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 1E

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