Liz contributed $1,750 at the end of every 3 months, for 4 years, into a Registered...
Liz contributed $1,750 at the end of every 3 months, for 4 years, into a Registered Retirement Savings Plan (RRSP) earning 3.25% compounded quarterly.
a. What is the future value of the fund at the end of 4 years?
Round to the nearest cent
b. What is the amount of interest earned over the 4-year period?
Homework Answers
Solution-
so liz future value amount is
$ 29,864.58 and he earned $ 1864.58 as interest over 4 years.
This is the required solution of the given question.
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