This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Mr. Hughes has contributed $4000.00 per year for the last ten years into a RRSP account earning ... (Read 139 times)

Charlie

  • Hero Member
  • *****
  • Posts: 640
on: Jun 6, 2019

Question 1

Mr. and Mrs. Fox have each contributed $1825.00 per year for the last eight years into RRSP accounts earning 6.93% compounded annually. Suppose they leave their accumulated contributions for another five years in the RRSP at the same rate of interest.
a) How much will Mr. and Mrs. Fox have in total in their RRSP accounts?
b) How much did the Fox's contribute?
c) How much will be interest?

Question 2

Mr. Hughes has contributed $4000.00 per year for the last ten years into a RRSP account earning 9.00% compounded annually. Suppose he leaves the accumulated contributions for another five years in the RRSP at the same rate of interest.
a) How much will Mr. Hughes have in total in his RRSP account?
b) How much did Mr. hughes contribute?
c) How much will be interest?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Charlie on Jun 6, 2019

xiaomengxian

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 64% of students answer this correctly


Charlie

  • Hero Member
  • *****
  • Posts: 640
Reply #2 on: Jun 6, 2019
Thank you!


xiaomengxian

  • Sr. Member
  • ****
  • Posts: 311
Reply #3 on: Jun 6, 2019
Always glad to help...


« previous next »
 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

U.S. Life Expectancy by Year of Birth U.S. Life Expectancy by Year of Birth
During their elderly years, men and women continue to exhibit aspects of the gender roles that they ... During their elderly years, men and women continue to exhibit aspects of the gender roles that they ...
Use a graphical method to find the length of the loan to the nearest year Use a graphical method to find the length of the loan to the nearest year
Beak size in finches during dry years increases because of strong selection Beak size in finches during dry years increases because of strong selection
Analysts expect Virtucon to make payouts of $8.7643B at the end of this year. Assume that all ... Analysts expect Virtucon to make payouts of $8.7643B at the end of this year. Assume that all ...
Earth 65 Million Years Ago Earth 65 Million Years Ago
Video: Muscular System Animation

For a complete list of videos, visit our video library