Part D.2 (4 Marks)

The following information is for solving Questions 31 to 34

To save for their retirement in 30 years in the future, a couple plan to make equal payments into a Registered Retirement Saving Plan (RRSP) in a balanced mutual fund. How much would they have 30 years in their RRSP account based on the following scenarios?

Question 31 (1 point)

Biweekly payments of $125 (assuming 5 percent compounded biweekly)?

Question 31 options:

	$305,674.85
	$205,674.85
	$226,324.88
	$227,591.69
	$261,910.89

Question 32 (1 point)

Monthly payment of $300 (assuming 5.25 percent compounded monthly)?

Question 32 options:

	$266,521.53
	$253,183.39
	$262,687.69
	$328,670.15
	$256,531.53

Question 33 (1 point)

Annual payments of $4,000 (assuming 5.5 percent compounded annually)?

Question 33 options:

	$305,677.72
	$332,196.76
	$326,657.12
	$235,431.45
	$297,257.42

Question 34 (1 point)

Weekly payments of $65 (assuming 7 percent compounded weekly)?

Question 34 options:

	$345,932.24
	$308,230.44
	$289,215.50
	$292,711.89
	$329,561.19