Question: Pascal has recently opened an RRSP . He plans to deposit $ 8 6 5 at the end of every month for 2 5 years.

Pascal has recently opened an RRSP. He plans to deposit $ 865 at the end of every month for 25 years. The account will compound interest semi-annually at the nominal rate of 8.6%. How much money will Pascal have in his account immediately after his last deposit?a.$ 885397.63b.$ 965083.42c.$ 849981.73d.$ 823419.80e.$ 920813.54

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!