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Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $170 into a trust fund every six months until Robin was twenty-one
Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $170 into a trust fund every six months until Robin was twenty-one years old. The trust fund provides for equal withdrawals at the end of each six months for two years, beginning six months after the last deposit. If interest is 5.91% compounded semiannually, how much will Robin receive every six months? Robin will receive '5 3,707.03'. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Jocelyn contributed $150.00 every three months into an RRSP for 10 years. What nominal annual rate of interest will the RRSP earn if the balance in Jocelyn's accountjust after she made her last contribution was $10,000.00? The nominal annual rate of interest is 9.86% compounded quarterly. (Round to two decimal places as needed.) Property worth $98,000.00 can be purchased for 10% down and mortgage payments of $3440.00 at the end of each six months for 20 years. What is the nominal annual rate of interest compounded semiannually? The nominal annual rate of interest compounded semi-annually is 4.75'%. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
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