Question: Pascal has recently opened an RRSP. He plans to deposit $ 794 at the end of every month for 10 years. The account will compound

Pascal has recently opened an RRSP. He plans to deposit $ 794 at the end of every month for 10 years. The account will compound interest semi-annually at the nominal rate of 7.3 %. How much money will Pascal have in his account immediately after his last deposit?

a. $ 138886.41

b. $ 144441.87

c. $ 141664.14

d. $ 143053.01

e. $ 140275.28

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!