Mr. Tomas has contributed $1000 at the end of each year into an RRSP paying 6% compounded

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Mr. Tomas has contributed $1000 at the end of each year into an RRSP paying 6% compounded quarterly.
(a) How much will Mr. Tomas have in the RRSP after 10 years?
(b) After 10 years, how much of the amount is interest?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:58 AM

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Mr. Tomas has contributed $1000 at the end of each year into an RRSP paying 6% compounded

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Contemporary Business Mathematics with Canadian Applications

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