An RRSP earns interest at 4.25% compounded quarterly. An amount of $1200 is invested into the RRSP
Question:
(a) Find the balance of the account at the end of the period.
(b) How much interest is earned?
(c) What is the effective rate of interest?
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PV 120000 i 00425 4 0010625 n 40 C Y 4 a FV 120000 1010625 120000 15261...View the full answer
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Related Book For 
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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