Author Question: Suman deposited $95 000.00 in an RRSP on April 1, 2016, at 8.22% compounded quarterly. Subsequently ... (Read 71 times)

storky111 · **on:** Jun 6, 2019

Question 1

Two years after Michelle deposited $25 000 in a TD Bank savings account that earned interest at 2.25% compounded monthly, the rate of interest was changed to 5.75% compounded semi-annually. How much was in the account fifteen years after the deposit was made?
◦ $26149.59
◦ $58510.72
◦ $61201.27
◦ $54641.30
◦ $54629.87

Question 2

Suman deposited $95 000.00 in an RRSP on April 1, 2016, at 8.22% compounded quarterly. Subsequently the interest rate was changed to 8.5% compounded monthly on September 1, 2016, and to 8.8% compounded semi-annually on June 1, 2017. What was the value of the RRSP deposit on December 1, 2017, if no further changes in interest were made?
◦ $112975.44
◦ $108406.58
◦ $97446.55
◦ $101734.20
◦ $103837.72

Missbam101 · **Reply #1 on:** Jun 6, 2019

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