How long will it take an RRSP to grow to $600,000 if it receives a contribution of

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How long will it take an RRSP to grow to $600,000 if it receives a contribution of $2500 at the beginning of each quarter and it earns:
a. 6% compounded quarterly?
b. 7% compounded quarterly?
c. 8% compounded quarterly?
d. 9% compounded quarterly?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:59 AM

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How long will it take an RRSP to grow to $600,000 if it receives a contribution of

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Given FV due 600000 PMT 2500 a j 6 m 4 i 46 15 It will require 102 quarterly contributions Since th...View the full answer

Business Mathematics In Canada

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