Question

Find the accumulated value after 12 years of deposits of $360 made at the beginning of every 3 months and earning interest of 7.5% compounded quarterly 3. What nominal annual rate of interest compounded quarterly was paid if contributions of $250 made into RRSP at the beginning of every3 months amounted to $14559 after 10 years? 4. If Gary accumulated $5700 in his savings account over 5 years, how much did he deposit at the beginning of each month if interest rate is 4.35% compounded monthly? 5. A vacation property valued at $25000 was bought for 15 payments of $2200 due at the beginning of every 6 months. What nominal annual rate of interest was charged

Answer 1

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