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.)

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.)

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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Jeff deposits 10 into a fund today and 20 fifteen years later. Interest for the firstten years is credited at a nominal discount rate of d compounded quarterly, and thereafterat a nominal interest rate of 6% compounded semiannually. The accumulated balance in thefund at the end of 30 years is 100. Calculate d.
Lucy won a large sum in the lottery. She invested part of her winnings into a fund earning 7.95% compounded monthly. She has arranged a systematic withdrawal plan that provides for 120 monthly payments increasing at a constant rate of 0.9% per payment. The first payment of $850 is due one month after she set up the fund. How much interest is included in the payments?
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For her daughter's university education, Carla Hackl has invested an inheritance in a fund paying 9.2% compounded quarterly. If ordinary annuity payments of $4750.00 per month are to be made out of the fund for 5 years and the annuity begins 7.75 years from now, how much was the inheritance
Every quarter, a couple deposits 1,050 in an account that pays 4 1/2% compounded quarterly. If their first deposit was made on September 1, 1988, how much will be in their account just after their deposit is made on March 1, 1998. (Ordinary Annuity-Amount and Present Value)
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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