Question
On January 1st of three successive years, Ross contributed $2,500, $3,800 and $5,500 respectively to his RRSP. The funds in his plan earned 8% compounded
On January 1st of three successive years, Ross contributed $2,500, $3,800 and $5,500 respectively to his RRSP. The funds in his plan earned 8% compounded monthly for the first year, 8.5% compounded quarterly for the second year, and 7% compounded semi-annually for the third year. What was the value of his RRSP three years after the first contribution?
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
