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Leah made equal deposits at the beginning of every 3 months into an RRSP. At the end of 9 years, the fund had an accumulated
Leah made equal deposits at the beginning of every 3 months into an RRSP. At the end of 9 years, the fund had an accumulated value of $45,000. If the RRSP was earning 3.50% compounded monthly, what was the size of the quarterly deposits? Round to the nearest cent Alicia received a $36,100 loan from a bank that was charging interest at 3.75% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 5 years? Round to the nearestcent b. What was the amount of interest charged on the loan over the 5 -year period? Round to the nearestcent
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