Monty is checking potential outcomes for the growth of his RRSP. He plans to make contributions of

Question:

Monty is checking potential outcomes for the growth of his RRSP. He plans to make contributions of $500 at the end of each month. What nominal rate of return must his RRSP earn for its after 25 years to be:
a. $400,000?
b. $500,000?
c. $600,000?
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...