If RRSP contributions of $3030.02 at the end of every six months are projected to generate a

Question:

If RRSP contributions of $3030.02 at the end of every six months are projected to generate a plan worth $500,000 in 25 years, what nominal and effective rates of return were assumed in the forecast?

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

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:52 AM

See More Questions

How much longer will it take month-end RRSP contributions of $500 to accumulate $500,000 than month-end contributions of $550? Assume that the RRSP earns 7.5% compounded monthly. Round the time...
RRSP contributions of $5000 are made at the beginning of every six months. How many more contributions will it take to reach $750,000 if the RRSP earns 8% compounded semiannually than if it earns 10%...
After 10 1/2 years of contributions of $2000 at the end of every six months to an RRSP, 2the accumulated amount stood at $65,727.82. What semiannually compounded nominal rate of return and effective...
Jeffrey Glockzin was an employee of Nordyne, Inc. (Nordyne), which manufactured air conditioning units. Sometimes Glockzin worked as an assembly line tester. The job consisted of using bare metal...
Explain why a subsidiarys assets and liabilities are consolidated using two different valuations (fair value and carrying value) under the parent-company method.
Jim and Pat are married and file jointly. In 2018, Jim earned a salary of $92,000. Pat is self-employed. Her gross business income was $98,000 and her business expenses totaled $48,000. Each...
Which one of the following does not relate to petrol engines? (a) ignition coil (b) distributor (c) spark plug (d) fuel injector
The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2014. In 2014, 15,000 shares were authorized and 7,000 shares of common stock ($50 par value)...
You are the manager of the team that created the new innovative luggage. Assuming the luggage in the target link is your competition, come up with a selling price for you new innovative. Explain why...
Assume your uncle raises bees for honey on his farm. You help him package the honey and sell it on the Internet. Reproduce Figure 1-1 for this small business example. Add a one-sentence description...
The present value of an ordinary annuity of $500 per month for 8_3 years is $35,820. 4 Calculate the nominal and effective values for the discount rate.
With end-of-month contributions of $251.33, a TFSA is expected to pass $100,000 in value after 15 years and 5 months. Determine the nominal and effective rates of return used in the projection.
The current from the source in Figure 470 is 5 mA. How much current does each milliammeter in the circuit indicate? Data in Figure 470 1 Vs. mA + + mA FIGURE 4-70 www R + www R3 + mA www R
Define the four categories of goods illustrated in the chapter. How would you distinguish one from another?
Visitors of the Carrs Park, a public park in Wilmslow, England, can use all available facilities, which include tennis courts and playgrounds, for free. In addition to this, there is no entry fee to...
Refer to the transactions for Blue Jay Delivery Service in Problem 3-6. Required 1. Prepare journal entries on the books of Blue Jay to record the transactions entered into during the month. Ignore...
The markets for most food products are characterized by output growth and low income and price elasticities. Is the price elasticity of the demand for food products elastic or inelastic? What happens...
The U.S. Womens National Teams (USWNTs) pay discrimination case against the U.S. Soccer Federation was chronicled in the 2021 documentary LFG (Nix & Fine, 2021). After a lawsuit dismissal in May...
The curve y = 3x + 2x 8 is reflected in the x-axis. State the equation of the reflected curve in the form y = ax + bx + c, where a, b and care constants.
Pearl Medavoy will invest $10,240 a year for 20 years in a fund that will earn 10% annual interest. . If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If...
McCormick Corporation issued a 4-year, $40,000, 5% note to Greenbush Company on January 1, 2011, and received a computer that normally sells for $31,495. The note requires annual interest payments...
Shlee Corporation issued a 4-year, $60,000, zero-interest-bearing note to Garcia Company on January 1, 2011, and received cash of $60,000. In addition, Shlee agreed to sell merchandise to Garcia at...
Access the glossary (Master Glossary) to answer the following. (a) What does the term callable obligation mean? (b) What is an imputed interest rate? (c) What is a long-term obligation? (d) What is...
Multiplication of signed operands, which generate a double-length product in the 2's-complement 100 11 MULTIPLICAND (-13) 0 10 1 1 MULTIPLIER (+11) number system. The general strategy is the...
panel = Drawing Panel (160, 160) for i in range (0, 10): panel.draw rectangle (20, 20 + 100 10 * 1, 10 i, 10) Write variations of the above program that draw the figures at the lower right as output....
John estimated the following cash flows (in $) for a project: A B 1 Year Cash flow 2 0 -5,700 3 1 1,325 4 2 2,148 5 3 3,528 The required return for the project is 8%. What is the IRR for the project?

If RRSP contributions of $3030.02 at the end of every six months are projected to generate a

Question:

Step by Step Answer:

Given FV 500000 PMT 303002 n 225 50 Then j850 com...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions