For the past 29 years, Eric has contributed $6,840 to his RRSP at the end of...

 

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For the past 29 years, Eric has contributed $6,840 to his RRSP at the end of every 12 months. The plan earned 7.30% compounded semi-annually for the first 14 years and 8% compounded annually for the subsequent 15 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 Question 9 [6 points] Calculate the nominal rate for each of the following general ordinary annuities given the present or future value of the annuity. Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Periodic payments Payment interval Term Interest Rate Compounding frequency Present or Future value $1,000.00 Every quarter year 5 years, 3 months $500.00 Every quarter year 5 years, 3 months 0.00% Semi-annually FV = $25,076.92 0.00% Monthly == PV $8,440.23 For the past 29 years, Eric has contributed $6,840 to his RRSP at the end of every 12 months. The plan earned 7.30% compounded semi-annually for the first 14 years and 8% compounded annually for the subsequent 15 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 Question 9 [6 points] Calculate the nominal rate for each of the following general ordinary annuities given the present or future value of the annuity. Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Periodic payments Payment interval Term Interest Rate Compounding frequency Present or Future value $1,000.00 Every quarter year 5 years, 3 months $500.00 Every quarter year 5 years, 3 months 0.00% Semi-annually FV = $25,076.92 0.00% Monthly == PV $8,440.23

Answer rating: 100% (QA)

To calculate the value of Erics RRSP today we need to find the future value of his contributions ove... View the full answer