Question
Ted deposited$1750 in an RRSP on March1, 2014, at3% compounded quarterly. Subsequently the interest rate was changed to4% compounded monthly on September1, 2016, and to4.5%
Ted deposited$1750 in an RRSP on March1, 2014, at3% compounded quarterly. Subsequently the interest rate was changed to4% compounded monthly on September1, 2016, and to4.5% compoundedsemi-annually on June1, 2018. What was the value of the RRSP deposit on December1, 2020, if no further changes in interest weremade?
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Options Futures and Other Derivatives
Authors: John C. Hull
10th edition
013447208X, 978-0134472089
