When Michelle retires in 12 years, she wants to receive $250.00 payments at the start o every month for 20 years from her RIF that earns 2.60% compounded semi-annually. What beginning of quarter deposits does Michelle have to make into his RRSP that earns 2.30% compounded quarterly for the 12 years until she retires?

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A: Loan amount (L) = P 900000 r = 10% n = 10 payments Let the annual payment = A

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A:

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A: Excel Spreadsheet: Excel Workings:

Q: When Austin retires in 18 years, he wants to receive $250.00 payments at the start of every month…

A: Retirement Period = 18 years payment = $250 Interest rate = 2.6% (Compounded semi annually)

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A: Here,

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Q: Ms.Sue was selling a house for a cash price of 5 million pesos but agreed to have it paid on monthly…

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Q: Asa has invested money from the settlement of an insurance claim. She plans to withdraw  $4,640 from…

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Q: John and Rosamond want to retire in 8 years and can save $230 every three months. They plan to…

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A:

Q: A woman, with her employer's matching program, contributes $500 at the end of each month to her…

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Q: Marissa converted an RRSP balance of $125,000 into an RRIF that will pay he $1,850 at the end of…

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Q: Sam Salverri is planning to retire in 15 years. Money can be deposited by 8% compounded quarterly.…

A: in this we have to calculate monthly interest rate and from that we can get required value.

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Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.