Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Sue has contributed $2,843.00 every three months for the last 11 years into an RRSP fund. The interest eamed by these deposits was 9% compounded quarterly for
the first 5 years and 6% compounded quarterly for the last 6 years. How much money is currently in the RRSP?
The balance is $
(Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.).
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Transcribed Image Text:Sue has contributed $2,843.00 every three months for the last 11 years into an RRSP fund. The interest eamed by these deposits was 9% compounded quarterly for the first 5 years and 6% compounded quarterly for the last 6 years. How much money is currently in the RRSP? The balance is $ (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.).
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