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

Author Question: Mr. Caldwell received a retirement gratuity of $48 700.00, which he deposited in an RRSP. He intends ... (Read 55 times)

RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
on: Jun 6, 2019

Question 1

$6420.00 was invested at a fixed rate of 6.5% compounded semi-annually for 5 years. After 5 years, the fund was converted into an ordinary annuity paying $550.00 per month. If interest on the annuity was 6% compounded monthly, what was the term of the annuity?

Question 2

Mr. Caldwell received a retirement gratuity of $48 700.00, which he deposited in an RRSP. He intends to leave the money for 6 years, then transfer the balance into an RRIF and make equal withdrawals at the end of every six months for 25 years. If interest is 8.5% compounded semi-annually, what will be the size of each withdrawal?
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 RODY.ELKHALIL on Jun 6, 2019

rnehls

  • Sr. Member
  • ****
  • Posts: 313
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


RODY.ELKHALIL

  • Member
  • Posts: 591
Reply 2 on: Jun 6, 2019
Wow, this really help

mcabuhat

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Lake position in the landscape and proportion of water received as groundwater (data from Webster et Lake position in the landscape and proportion of water received as groundwater (data from Webster et
Women have even more need than men to plan for retirement; at retirement age they have typically ... Women have even more need than men to plan for retirement; at retirement age they have typically ...
These photos show a rat burying a test object from which it has just received a single mild shock. These photos show a rat burying a test object from which it has just received a single mild shock.
Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ... Hector makes payments of $2000.00 into an RRSP at the beginning of every six months starting ...
Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ... Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ...
Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ... Jamal plans to retire in 17 years. He is saving $2000 every start of the month in a retirement ...
Video: Hormonal regulation of pregnancy - weeks 2 through 38

For a complete list of videos, visit our video library