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 145 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?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

The basalt below the hominins is dated to 1.8 million years ago, and the geomagnetic polarity of the The basalt below the hominins is dated to 1.8 million years ago, and the geomagnetic polarity of the
The proportion of obese and extremely obese adults in the United States has increased over the past The proportion of obese and extremely obese adults in the United States has increased over the past
Checklist of Developmental Skills: Birth to 5 years Cont. Checklist of Developmental Skills: Birth to 5 years Cont.
Adults in the middle-aged group (37–42 years) score higher on measures of generativity than either ... Adults in the middle-aged group (37–42 years) score higher on measures of generativity than either ...
The Cs-131 nuclide has a half-life of 30. years. After 139 years, about 3.0 grams remain. The ... The Cs-131 nuclide has a half-life of 30. years. After 139 years, about 3.0 grams remain. The ...
Heart drawing by 6 years old Heart drawing by 6 years old
Video: Atrophy

For a complete list of videos, visit our video library