How much will a registered retirement savings deposit of $1500 be worth in 15 years at 3.45%

Question:

How much will a registered retirement savings deposit of $1500 be worth in 15 years at 3.45% compounded quarterly? How much of the amount is interest?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0134141084

11th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs

See More Books

Question Posted: Nov 29, 2017 06:46 AM

See More Questions

Describe the features of a registered retirement savings plan (RRSP). What is the purpose of the various RRSP account types? What investments qualify to be held inside an RRSP account? How do you...
A 25-year annuity was purchased with $225,000 that had accumulated in a Registered Retirement Savings Plan (RRSP). The annuity provides a semiannually compounded rate of return of 5.2% and makes...
Cindy started a registered retirement savings plan on February 1, 2012, with a deposit of $2500. She added $2000 on February 1, 2013, and $1500 on February 1, 2018. What is the accumulated value of...
Why is it so easy to develop and then retain racial prejudices? How can we break this mold?
For the component described in the problem indicated, determine (a) The principal mass moments of inertia at the origin, (b) The principal axes of inertia at the origin. Sketch the body and show the...
The trial balances before and after adjustment for Carla Vista Company at the end of its fiscal year are presented below. CARLA VISTA COMPANY Trial Balance August 31, 2022 Before Adjustment...
Discuss the underlying attributes necessary to support high achievers.
A partnership of attorneys in the St. Louis, Missouri, area has the following balance sheet accounts as of January 1, 2013: Assets .........$320,000 Liabilities ..........$120,000 Athos, capital...
x Bond Issue B (A) Cash Interest Paid $600,000.0 (B) Period Interest Expense Period 12.0% x (E) x 12.5% Ending 3/12 x 3/12 (C) Amort. (A) - (B) (D) (E) Carrying Value Unamortized $600,000 Balance (D)...
Following are the 2011 financial statements for these three companies Curle made numerous transfers of inventory to Lance since the takeover 112000 2010 and 140000 2011 These transactions included...
Determine the value of a $1300 non-interest- bearing note four months before its maturity date of July 13, 2017, if money is worth 7%.
You borrowed $3500.00 at 10.4% p.a. compounded monthly, and repaid $1000.00 after two years and $750.00 after four years. How much do you owe at the end of five years?
What are the mechanisms used by countries to provide relief from double taxation?
Remarketing is a key strategy in digital marketing. It can be used for many digital media types such as display ads, search ads (paid search), paid social, email, and more. Question # 1: How does...
In the big picture of justice administration, how does it harm the system as a whole to implement ineffective programs? Why is it so important to identify effective criminal justice programs?
You do some research to better understand the grocery store and learn that the average consumer spends $645 on trader joes per year. Trader Joes generally have a net profit margin of 15% and...
"Clearly no marketer, no matter how senior, can change the underlying dimensions of a company's culture all by him- or herself, but he or she performs a 159 great service by helping managers...
Analyze the roles that managers must play to be effective team members and leaders within a criminal justice organization and present how you will apply these roles as you lead your department.
Rockland Industries agreed to purchase three containers of antimony oxide at $1.80 per pound from Manley-Regan Chemicals. Rockland produces drapes, and antimony oxide is used to fire proof the...
During 2012, Cheng Book Store paid $483,000 for land and built a store in Georgetown. Prior to construction, the city of Georgetown charged Cheng $1,300 for a building permit, which Cheng paid. Cheng...
Triton Company received an invoice for $842 dated March 9 with terms 5/10, 2/20, n/60. (a) If the invoice is paid on March 19, how much is to be paid? (b) If the invoice is paid on March 27, how much...
Darrigo Grape received an invoice for $13 780 dated September 28, terms 5/20 R.O.G., from Nappa Vineyards for a carload of grape juice received October 20. Darrigo made a partial payment of $5966 on...
Highway One Gas sells gas for vehicles at $1.12 per liter. Louis purchases 50 liters of gas for his car. He pays for the purchase in cash, paying a total of $54.04. (a) How much did he save by paying...
Explain why leasing is an option for a company expansion. include, what leasing is and how it will benefit the company in it's expanding efforts. Also, how is capital or operating leasing recorded on...
Discuss the following statement: " A head of state signs a treaty on behalf of his country in excess of authority of his country, such treaty shal be void for inconsistency with domestic law of the...
A company is looking at new equipment with an installed cost of $415,329. This cost will be depreciated straight-line to zero over the project's 5-year life, at the end of which the equipment can be...

How much will a registered retirement savings deposit of $1500 be worth in 15 years at 3.45%

Question:

Step by Step Answer:

345 PV 150000 IY 345 CY 4 2 i 4 08...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Accounting questions