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How many monthly payments of $100 would it take for an RRSP to have a balance of $12,000 at an interest rate of 3.4% p.a.
How many monthly payments of $100 would it take for an RRSP to have a balance of $12,000 at an interest rate of 3.4% p.a. compounding semi-annually?
a. 87 payments of $100 and a smaller final payment
b. 103 payments of $100 and a smaller final payment
c. 36 payments of $100 and a smaller final payment
d. 102 payments of $100 and a smaller final payment
e. 47 payments of $100 and a smaller final payment
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