Harold's RRSP is already worth $56,000. Rounded to the next-highest month, how long will it take the
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Harold's RRSP is already worth $56,000. Rounded to the next-highest month, how long will it take the RRSP to reach $250,000 if additional contributions of $2000 are made at the end of every six months? Assume the RRSP earns 3.9% compounded monthly.
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The semiannual contributions form an ordinary general annuity hav...View the full answer
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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