Anika made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years, the fund had an accumulated value of $50,000. If the RRSP was earning 4.50% compounded monthly, what was the size of the quarterly deposits? Round to the nearest cent
Anika made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years, the fund had an accumulated value of $50,000. If the RRSP was earning 4.50% compounded monthly, what was the size of the quarterly deposits? Round to the nearest cent
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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Anika made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years, the fund had an accumulated value of $50,000. If the RRSP was earning 4.50% compounded monthly, what was the size of the quarterly deposits?
Round to the nearest cent
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