Gabe opened an RRSP deposit account on December​ 1, 2008, with a deposit of ​$2000. He added ​$2000 on November ​1, 2010, and ​$2000 on April ​1, 2012. How much is in his account on August ​1, 2016, if the deposit earns 8.3​% p.a. compounded monthly​?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
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Gabe opened an RRSP deposit account on December​ 1, 2008, with a deposit of ​$2000. He added ​$2000 on November ​1, 2010, and ​$2000 on April ​1, 2012. How much is in his account on August ​1, 2016, if the deposit earns 8.3​% p.a. compounded monthly​?

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