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 291 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?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

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.

Over nearly 30 years, humans removed many polar bears for a variety of reasons, from a population in Over nearly 30 years, humans removed many polar bears for a variety of reasons, from a population in
Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth
Stepwise approach for managing asthma in adults and patients 12 years and older. Stepwise approach for managing asthma in adults and patients 12 years and older.
A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ... A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ...
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Earth 600 Million Years Ago Earth 600 Million Years Ago
Video: Bacteriophage (Virus) - Mice Experiment

For a complete list of videos, visit our video library