Phil has systematically contributed $3000 to his RRSP at the beginning of every three months for the past 17 years.If the RRSP has earned 8.8% compounded quarterly, what is the value of Phil's RRSP today? (Do not round Intermedlate calculationsand round your final answer to 2 declmal places.)The value of the RRSP today$ 54600.00< Prev3 of 8Next >connect Liam purchases an annuity for $700,000 that provides beginning-of-month payments for 15 years.If the annuity earns 4.5% compounded monthly, what monthly payment will he receive? (Do not round Intermedlate calculations andround your final answer to 2 decimal places.)Liam will receive $ 5354.95 per month.ces< Prev6 of 8Next >connectll 0 4W

Phil has systematically contributed $3000 to his RRSP at the beginning of every three months for the past 17 years. If the RRSP has earned 8.8% compounded quarterly, what is the value of Phil's RRSP today? (Do not round Intermedlate calculations and round your final answer to 2 declmal places.) The value of the RRSP today $ 54600.00

Phil has systematically contributed $3000 to his RRSP at the beginning of every three months for the past 17 years. If the RRSP has earned 8.8% compounded quarterly, what is the value of Phil's RRSP today? (Do not round Intermedlate calculations and round your final answer to 2 declmal places.) The value of the RRSP today $ 54600.00

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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You have won $1,000,000 in a lottery. Your winnings will be paid to you in equal annualyear-end installments of $50,000 over 20 years. You estimate that you can earn 5% on yourinvestments. The present value of your $1,000,000 winnings would be closest toa. $377,000.b. $623,100.c. $1,000,000.d. $1,050,000.
Question 1Mr. and Mrs. Haddad have contributed $2025.00 per six months for the last eighteen years into RRSP accounts earning 6.92 % compounded semi - annually. a) How much will Mr. and Mrs. Haddad have in total in their RRSP accounts? b) How much did the Haddad's contribute? c) How much will be interest? PMT = $IY = CY = i = n = Total in RRSP account $Total Contibution =$ Interest =$ Blank 1: Blank 2: Blank 3: Blank 4: Blank 5: Blank 6: Blank 7: Blank 8:
f1. Subject :- Accounting Amy contributed $1011.00 at the end of every six months for 21.5 years into an RRSP earning interest at 6.65% compounded semi-annually. Seven years after the last contribution, Amy converted the RRSP into an RRIF that is to pay her equal quarterly amounts for 17.25 years. If the first payment is due three months after the conversion into the RRIF and interest on the RRIF is 7.66% compounded quarterly, how much will Amy receive every three months? PLEASE show workings with INTEREST RATE FORMULA ONLY
For the past 29 years, Ben has contributed $1,830 to his RRSP at the end of every 3 months. The plan earned 7.70% compounded annually for the first 15 years and 7 50% compounded quarterly for the subsequent 14 years. What is the value of his RRSP today? For full marks your answer(s) should be rounded to the nearest cent RRSP value $0.00
At the end of each quarter, Patti deposits $1,200 into an account that pays 10% interest compounded quarterly How much will Patti have in the account in five years? (EV of $1. PV of $1. EVA of S1, and PVA of 5) (Use appropriate factor(s) from the tables provided) Multiple Choice $30.654 $36.654 $31854 $30,854
Mr. Chips, Inc. wishes to accumulate $1,200,000 to be used to pay off a balloon note at the end of 5 years. How much will Mr. Chips need to invest today to accumulate the desired amount if the investment earns an annual rate of 8% compounded quarterly? (Select the closest amount.) Select one: O A. $807,564 O O O B. $1,086,877 C. $257,458 D. $1,783,167
At the end of each quarter, Patti deposits $1,800 into an account that pays 10% interest compounded quarterly. How much will Patti have in the account in five years? (FV of $1, PV of $1, FVA of $1, and PVA of $1). (Use appropriate factor(s) from the tables provided.) Multiple Choice $45,980 $47,830 $47,780 $54,980 Prev 1 of 10 Next > APR 6. tv 4
Taylor deposited $600 at the end of every three months into an investment for the past 5 years. The investment earns 3.25% compounded semiannually. How much is her investment worth today? Round to two places after the decimal. 1/Y P/Y c/Y N PV PMT FV Dave's investment is worth $ today.
Calculate the future value of $5,000 earning 6% compounded quarterly (j4) for 4.5 years. Round your answer to 2 decimal places. Your Answer: Answer
(2.2) Faith saves for retirement by depositing $550 each month into an account which earns an APR of 3.5% compounded monthly. How much will Faith have in 20 years? LSS-Comp SP O LSS-Cont O LP
Rosina plans on aving$2,225a ycar and expects to carn a rate of8.37%compounded quarterly. How much will she have in her account at the chd of 43 years? • 1.53,639,983approx. • 2.5881,927approx. •3.5816,159 approx. •4.578,392 approx. •5.570,537 approx.
Suppose an individual makes an initial investment of $1400 in an account that earns 7.8%,compounded monthly, and makes additional contributions of $100 at the end of each month for aperiod of 12 years. After these 12 years, this individual wants to make withdrawals at the end ofeach month for the next 5 years (so that the account balance will be reduced to $0). (Roundanswers to the nearest cent.)a) How much is in the account after the last deposit is made?b) How much was deposited in total?c) What is the amount of each withdrawal?d) What is the total amount withdrawn?

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