Question
1. Laurence contributed $4,125 at the end of every 6 months to an RRSP fund earning 7.47% compounded semi-annually for 9 years. a. What was
1. Laurence contributed $4,125 at the end of every 6 months to an RRSP fund earning 7.47% compounded semi-annually for 9 years.
a. What was the future value of the fund at the end of the term? Round to the nearest cent
b. What was the amount of interest earned over this period?
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman
5th Edition
0367335417, 978-0367335410
