Question
Chen opened an RRSP deposit account on December 1, 2008, with a deposit of $2500. He added $2500 on October 1, 2010, and $2500 on
Chen opened an RRSP deposit account on December 1, 2008, with a deposit of $2500. He added $2500 on October 1, 2010, and $2500 on March 1, 2012. How much is in his account on January 1, 2016, if the deposit earns 8.5% p.a. compounded monthly?
The amount in the account is $ ?
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Advanced Accounting
Authors: Debra C. Jeter, Paul Chaney
5th Edition
1118022297, 9781118214169, 9781118022290, 1118214161, 978-1118098615
