Mr. Williams wants to accumulate a total of $477,000 in an RRSP that earns 13% compounded monthly.

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Mr. Williams wants to accumulate a total of $477,000 in an RRSP that earns 13% compounded monthly. He is prepared to make 252 equal monthly contributions at the start of each month. What monthly payment is required to achieve this goal ?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Posted Date: Apr 20, 2024 10:57 AM

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Mr. Williams wants to accumulate a total of $477,000 in an RRSP that earns 13% compounded monthly.

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Answer we can use the formula for the future value of an annuity FVP... View the full answer

Business Mathematics In Canada

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