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Author Question: Jeff is retired and has an investment fund worth $210 000 in an RRSP, which earns 9% compounded ... (Read 47 times)

burchfield96

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on: Jun 6, 2019

Question 1

Olivia plans to have $1 000 000 in her RRSP at her retirement at the age of 60. How long will it take her to accumulate $1 000 000 in an RRSP if the first quarterly contribution of $2000 is made today and RRSP is expected to earn 8% compounded quarterly?
◦ 29 years
◦ 47 years and 3 months
◦ 30 years 6 months
◦ 30 years and 3 months
◦ 28 years 9 months

Question 2

Jeff is retired and has an investment fund worth $210 000 in an RRSP, which earns 9% compounded semi-annually. He plans to withdraw only $2000 at the beginning of each month starting today. When will the fund become depleted?
◦ 9 years
◦ 16 years 10 months
◦ 8 years and 9 months
◦ 17 years
◦ 16 years and 6 months
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by burchfield96 on Jun 6, 2019

stillxalice

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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.
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burchfield96

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Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

anyusername12131

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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