Question
Kristen opened an RRSP account and deposited $1,700 into it. She then deposited $900 at the end of the 1st year and $475 at the
Kristen opened an RRSP account and deposited $1,700 into it. She then deposited $900 at the end of the 1st year and $475 at the end of the 2nd year, into the account. The RRSP was earning 2.50% compounded quarterly.
a. What is the accumulated value of the investments at the end of the 2nd year?
b. What is the accumulated value of the investment at the end of 5 years?
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Public Finance In Canada
Authors: Harvey S. Rosen, Ted Gayer, Jean-Francois Wen, Tracy Snoddon
5th Canadian Edition
1259030776, 978-1259030772
