Adam deposited $1,300 at the end of every month into an RRSP for 8 years. The interest rate earned was 3.50% compounded semi- annually for the first 5 years and changed to 3.75% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 8 years?
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- Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569 and payment is due each Dec. 31. What is the journal entry on Jan. 1 to record the cash received and on Dec. 31 to record the annual payment? (You will need to prepare the first row in the amortization table to determine the amounts.)
- . Eric deposited $1,400 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.75% compounded semi-annually for the first 4 years and changed to 5.00% compounded monthly for the next 4 years. What was the accumulated value of the RRSP at the end of 8 years?Mitchell deposited $700 at the end of every month into an RRSP for 8 years. The interest rate earned was 4.25% compounded semi-annually for the first 5 years and changed to 4.50% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 8 years?Sam deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned was 4.50% compounded semi-annually for the first 4 years and changed to 4.75% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 7 years?
- George invested $1,200 at the end of every month into an RRSP for 8 years. The interest rate earned was 5.7% compounded semi-annually for the first 5 years and changed to 4.5% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 8 years?Vanessa deposited $1,300 at the end of every month into an RRSP for 7 years. The interest rate earned was 4.50% compounded semi-annually for the first 3 years and changed to 4.75% compounded monthly for the next 4 years. What was the accumulated value of the RRSP at the end of 7 years?.Zachary deposited $1,200 at the end of every month into an RRSP for 6 years. The interest rate earned was 3.50% compounded semi-annually for the first 4 years and changed to 3.75% compounded monthly for the next 2 years. What was the accumulated value of the RRSP at the end of 6 years? Round to the nearest cent
- Derek deposited $700 at the end of every month into an RRSP for 7 years. The interest rate earned was 3.75% compounded semi-annually for the first 5 years and changed to 4.00% compounded monthly for the next 2 years. What was the accumulated value of the RRSP at the end of 7 years? Round to the nearest centVincent deposited $1,300 at the end of every month into an RRSP for 9 years. The interest rate earned was 4.25% compounded semi-annually for the first 4 years and changed to 4.50% compounded monthly for the next 5 years. What was the accumulated value of the RRSP at the end of 9 years? Round to the nearest centLaura deposited $1,100 at the end of every month into an RRSP for 6 years. The interest rate earned was 4.75% compounded semi-annually for the first 4 years and changed to 5.00% compounded monthly for the next 2 years. What was the accumulated value of the RRSP at the end of 6 years?