Question 13 of 13 Since the birth of her daughter, 20 years ago, Liz has deposited...
Since the birth of her daughter, 18 years ago, Liz has deposited $100 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.80% compounded monthly for the first 9 years and 3.80% compounded monthly for the next 9 years. a. What would be the accumulated value of the RESP at the end of 9 years? Round to the nearest cent b. What would be the accumulated value of the...
Since the birth of his daughter, 16 years ago, Ali has deposited $75 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 5.80% compounded monthly for the first 8 years and 3.60% compounded monthly for the next 8 years. a. What would be the accumulated value of the RESP at the end of 8 years? b. What would be the accumulated value of the RESP at the end of...
Question 7 of 15 Since the birth of his granddaughter, 16 years ago, Jared has deposited $250 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.50% compounded monthly for the first 9 years and 4.75% compounded monthly for the next 7 years. a. What was the accumulated value of the RESP at the end of 9 years? $0.00 Round to the nearest cent b. What was the accumulated...
MULCHI Close Date: Thu, Jul 30, 2020 4:15 PM Question 10 of 13 Since the birth of her daughter, 18 years ago, Lucy has deposited $50 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.70% compounded monthly for the first 12 years and 4.40% compounded monthly for the next 6 years. a. What would be the accumulated value of the RESP at the end of 12 years? Round...
Liz deposited $600 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.50% compounded semi-annually for the first 3 years and changed to 4.75% compounded monthly for the next 5 years. What was the accumulated value of the RRSP at the end of 8 years? Round to the nearest cent
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?
Question 13 of 13 Ali's grandmother is depositing $1,200 at the end of each quarter into a RESP to save for Ali's University education. The RESP earns interest at 4.50% compounded quarterly Ali will start university in six years at which time his grandmother will stop contributing a. How much will grandmother have accumulated in the RESP in six years? Round to the nearest cent SUBMITA
Question 4 of 13 Corey's grandmother is depositing $1,200 at the end of each quarter into a RESP to save for Corey's University education. The RESP earns interest at 5.50% compounded quarterly. Corey will start university in six years at which time his grandmother will stop contributing. a. How much will grandmother have accumulated in the RESP in six years? $0.00 Round to the nearest cent b. How much can Corey withdraw from his RESP at the end of each...
What sum deposited today at 5% compounded annually for 8 years will provide the same amount as $2400 deposited at the end of each year for 8 years at 8% compounded annually? What sum would have to be deposited today at 5% interest compounded annually? (Round to the nearest cent.)
Question 6 of 11 Brian deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned was 5.75% compounded semi-annually for the first 4 years and changed to 6.00% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 7 years? Round to the nearest cent Submit Question Next Question