1 Dave has $57,485 in his TFSA that pays 112 2 9 Starting in one month he plans to (a) deposit $600 month How much will you have accumulated at the end of 3 years ANSWER (b) withdraw $700 month instead How long until the money is gone ANSWER 2 Dave's dad is saving money for his retirement In the last five years he invests $1,800 every 6 months in a mutual fund that pays 8 compounded semi annually Now, the rate drops to 5 8 compounded quarterly and he wants to deposit $1,200 every quarter for another five years How much money will he has at the end of ten years

Question

1  Dave has $57,485 in his TFSA that pays 112   2 9   Starting in one month he plans to  (a) deposit $600 month  How much will you have accumulated at the end of 3 years  ANSWER  (b) withdraw $700 month instead  How long until the money is gone  ANSWER  2  Dave's dad is saving money for his retirement  In the last five years  he invests $1,800 every 6 months in a mutual fund that pays 8  compounded semi annually  Now, the rate drops to 5 8  compounded quarterly and he wants to deposit $1,200 every quarter for another five years  How much money will he has at the end of ten years

Accepted Answer

The Answer is in the image, click to view ...

Question

1. Dave has $57,485 in his TFSA that pays 112 = 2.9%. Starting in one month he plans to: (a) deposit $600/month. How much will

Step by Step Solution

Step: 1

Get Instant Access with AI-Powered Solutions

Step: 2

Step: 3

Ace Your Homework with AI