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

Author Question: Mark contributed $270.00 at the end of every 3 months for 5.75 years into an RRSP earning 12.6% ... (Read 70 times)

sarasara

  • Hero Member
  • *****
  • Posts: 521
on: Jun 6, 2019

Question 1

A debt of $140 000.00 is to be repaid in installments due at the end of each month for 15.5 years. If the payments are deferred for three years and interest is 7.28% compounded quarterly, what is the size of the monthly payments?

Question 2

Mark contributed $270.00 at the end of every 3 months for 5.75 years into an RRSP earning 12.6% interest compounded quarterly. Four years after the last contribution he converted the RRSP into a RRIF that is to pay him quarterly payments for 29.5 years. If the first payment is due three months after the conversion into the RRIF and interest on the RRIF is 9.5% compounded quarterly, how much will Mark receive every 3 months?
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 sarasara on Jun 6, 2019

chreslie

  • Sr. Member
  • ****
  • Posts: 307
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


sarasara

  • Hero Member
  • *****
  • Posts: 521
Reply #2 on: Jun 6, 2019
Thank you!


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Jun 6, 2019
Always glad to help...


« previous next »
 

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

A gray squirrel, seven months of age near Mobile, Alabama A gray squirrel, seven months of age near Mobile, Alabama
Possible Earth 5 billion years from now Possible Earth 5 billion years from now
The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old. The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old.
(a) The site of Zhoukoudian outside of Beijing, China, spans several hundred thousand years and (b) (a) The site of Zhoukoudian outside of Beijing, China, spans several hundred thousand years and (b)
Shortly after his death, George Washington had already become myth—part Moses, part angel—in this wo Shortly after his death, George Washington had already become myth—part Moses, part angel—in this wo
Climate change occurs over millions of years Climate change occurs over millions of years
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library