1. Jane makes regular (end of term) deposits into her RRSP (Registered Retirement Savings Plan) that will...
Fantastic news! We've Found the answer you've been seeking!
Question:
Follow this chart:
1) How much money should Jane have in her RRIF to receive payments of $5,000 at the end of every three months?
P/Y = C/Y = N = I/Y = %
PV = $ PMT = $ FV = $
2) What payment will Jane have to make at the end of every three months into her RRSP so that there is enough money in her RRIF at the start of her retirement?
P/Y = C/Y = N = I/Y = %
PV = $ PMT = $ FV = $
2.Three years ago Nate began depositing $300 at the beginning of every six months into an account. The interest rate was 1.67% compounded semi-annually. Answer the following questions, and round all answers to two decimal places where necessary.
Choose BGN or END?
1) What is the present account balance?
Follow this chart:
P/Y = C/Y = N = I/Y = %
PV = $ PMT = $ FV = $
2) If he stops making deposits immediately, how much will be in the account in nine and a half years from now, if the interest rate remains the same (1.67% compounded semi-annually)?
P/Y = C/Y = N = I/Y = %
PV = $ PMT = $ FV = $
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: