You enter into an automatic savings plan with RBC where $750 is deducted from your paycheck...
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You enter into an automatic savings plan with RBC where $750 is deducted from your paycheck at the end of each quarter starting on March 31, 2013 (first payment) to December 31, 2018 (last payment). If the account pays 8% (APR, monthly compounded), how much money is in the account on December 31, 2018 (right after the last contribution)? You enter into an automatic savings plan with RBC where $750 is deducted from your paycheck at the end of each quarter starting on March 31, 2013 (first payment) to December 31, 2018 (last payment). If the account pays 8% (APR, monthly compounded), how much money is in the account on December 31, 2018 (right after the last contribution)?
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To solve this problem we need to calculate the future value of an annuity due whi... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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