Charlene has made contributions of $3,400 to her RRSP at the end of every half year for the past seven years. The plan has earned 9.4% compounded semiannually. She has just moved the funds to another plan earning 7.9% compounded quarterly, and will now contribute $2,400 at the end of every three months. What total amount will she have in the plan five years from now? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Charlene has made contributions of $3,400 to her RRSP at the end of every half year for the past seven years. The plan has earned 9.4% compounded semiannually. She has just moved the funds to another plan earning 7.9% compounded quarterly, and will now contribute $2,400 at the end of every three months. What total amount will she have in the plan five years from now? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 15E

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