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Last Name: First Name: Set: 1. Dave has $67,485 in his TFSA that pays j12 = 2.8%. Starting in one month he plans to: (a)

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Last Name: First Name: Set: 1. Dave has $67,485 in his TFSA that pays j12 = 2.8%. Starting in one month he plans to: (a) deposit $700/month. How much will you have accumulated at the end of 4 years ANSWER: (b) withdraw $700/month instead. How long until the money is gone? ANSWER: 2. Dave's dad has $60,000 in your RRSP. From the end of this month, he starts to deposit an additional $800/month for 10 years into his RRSP. If he makes $28,819.28 in interest over the 10 years, what is the nominal interest rate if it is compounded monthly

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