Question
Robert opened an RRSP deposit account on December 1, 2008, with a deposit of $1200. He added $1200 on May 1, 2010, and $1200 on
Robert opened an RRSP deposit account on December 1, 2008, with a deposit of $1200. He added $1200 on May 1, 2010, and $1200 on September 1, 2012. How much is in his account on August 1, 2016, if the deposit earns 6.3% p.a. compounded monthly?
The amount in the account is $__
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
4th Edition
0077262379, 978-0077262372
