Year end contributions of $1000 will be made to a TFSA for 25 years What will be the future value of the account if it earns 7 1 2 compounded monthly for the first 10 years and 8 compounded semiannually thereafter ...

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Year-end contributions of $1000 will be made to a TFSA for 25 years. What will be the

Question:

Year-end contributions of $1000 will be made to a TFSA for 25 years. What will be the of the account if it earns 7 1/2% compounded monthly for the first 10 years and 8% compounded semiannually thereafter?
Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...