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Peter deposits $1339 at the end of every 3 months in an RRSP that is earning 7.78% compounded annually. For the RRSP to accumulate

 

Peter deposits $1339 at the end of every 3 months in an RRSP that is earning 7.78% compounded annually. For the RRSP to accumulate to $42597, calculate the following: How many deposits will he have to make? Round up to the next whole number Answer: 4

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Every 3 Month Quarterly Deposit Rate 778 1 future value 42597 Effective Annual rate EAR 778 ... blur-text-image

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