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Author Question: Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he ... (Read 95 times)

jenna1

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Question 1

If you want to be able to set up a scholarship fund that will last forever and you feel that you can earn 4.8% compounded annually. How much money do you have to deposit today in order to be able to provide 6 scholarships of $3000 each?
◦ $735 000.00
◦ $375 000.00
◦ $357 000.00
◦ $333 000.00
◦ $37 500.00

Question 2

Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he accumulate in his RRSP by age 60, if RRSP earns 8% compounded semi-annually and no contribution is made on his sixtieth birthday?
◦ $640 156
◦ $669 842
◦ $565 324
◦ $615 535
◦ $587 937


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Marked as best answer by jenna1 on Jun 6, 2019

triiciiaa

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