Question
Luoxana contributed $5,000.00 every year into an RRSP for 18 years. What nominal annual rate of interest will the RRSP earn if the balance in
Luoxana contributed $5,000.00 every year into an RRSP for 18 years. What nominal annual rate of interest will the RRSP earn if the balance in Luoxana's account just after she made her last contribution was $195,000.00?
The nominal annual rate of interest is ___ % compounded annually.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
