How long will it take an RRSP to grow to $690,000 if it receives a contribution of $1,900 at the beginning of each quarter and it earns: (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) |
a. | 4.2% compounded quarterly | quarterly contributions | |
b. | 6.4% compounded quarterly | quarterly contributions | |
c. | 9.1% compounded quarterly | quarterly contributions | |
d. | 9.9% compounded quarterly | quarterly contributions | |
How long will it take an RRSP to grow to $690,000 if it receives a contribution...
How long will $500,000, in an investment account that earns 3.25% compounded monthly, sustain month-end withdrawals of $3000? (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.)
1. Shirley wants to go on a trip to Hawaii. She budgets that she can save $108 at the end of every month, and interest in her account is 8% compounded biweekly. By looking at prices, she knows that the trip will cost her $4813 total. How long in years (round to two decimal places) will it take before she can go on her trip? 2. Joey buys a new Honda civic for $18997. He agrees to payments at the...
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How long will it take for a $2500 investment to grow to $4000 at an annual rate of 15%, compounded monthly? Assume that no withdrawals are made. Do not round any intermediate computations, and round your answer to the nearest hundredth If necessary, refer to the list of financial formulas. U years I Don't Know Sulit 2020 M Als Res
How long will it take $3,000 to grow to $21,000 if it is invested at 7% compounded monthly? years (Round to the nearest tenth of a year.)
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Suppose $200,000 used to establish an annuity that earns 8%, compounded quarterly, and pays $5500 at the end of each quarter How long will it be until the account balance is $02 (Round your answer UP to the newest quarter.) quarters Find the present value of an annuity due that pays $2000 at the beginning of each quarter for the next 6 years. Assume that money is worth 6.6%, compounded quarterly. (Round your answer to the nearest cont.) $ Need...
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