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

Question:

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

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