If RRSP contributions of $3330.02 at the end of every six monthsare projected to generate...

If RRSP contributions of $3330.02 at the end of every six months are projected to generate a plan worth $531,000 in 25 years, what nominal rate compounded semi-annually and effective rates of return were assumed in the forecast? (Do not round intermediate calculations and round your final answers to 2 decimal places.)

Nominal rate of return % Effective rate of return %

Expert Solution

jeff jeffy answered 2 years ago

Glenn has made contributions of $250 at the end of every 3 months into an RRSP...

Glenn has made contributions of $250 at the end of every 3 months into an RRSP for 10 years. Interest for the first 10 years was 4% compounded quarterly. (a)What is the amount in the RRSP after the first 10 years? (b)After the first 10 years, Glenn stopped making contributions. The interest rate changed to 5% compounded monthly. How much will Glenn have in his RRSP three years after the last contribution? (c)Suppose Glenn then decides to withdraw the money...

Glenn has made contributions of $250 at the end of every three months into an RRSP...

Glenn has made contributions of $250 at the end of every three months into an RRSP for 10 years. Interest for the first 10 years was 4% compounded quarterly. (a) What is the amount in the RRSP after the first 10 years? (b) After the first 10 years, Glenn stopped making contributions. The interest rate changed to 5% compounded quarterly. How much will Glenn have in his RRSP three years after the last contribution? (c) Suppose Glenn then decides to...

Lionel deposited $1,500 at the end of every month into an RRSP for 6 years. The...

Lionel deposited $1,500 at the end of every month into an RRSP for 6 years. The interest rate earned was 3.75% compounded semi-annually for the first 3 years and changed to 4.00% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 6 years? Round to the nearest cent

If Gayle contributes $1,100 to her RRSP at the end of every quarter for the next...

If Gayle contributes $1,100 to her RRSP at the end of every quarter for the next 12 years and then contributes $1,100 at each month’s end for the subsequent 13 years, how much will she have in her RRSP at the end of the 25 years? Assume that the RRSP earns 8.6% compounded semiannually. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Gayle will have $

If Gayle contributes $1,900 to her RRSP at the end of every quarter for the next...

If Gayle contributes $1,900 to her RRSP at the end of every quarter for the next 11 years and then contributes $1,900 at each month’s end for the subsequent 10 years, how much will she have in her RRSP at the end of the 21 years? Assume that the RRSP earns 9.4% compounded semiannually. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Gayle will have $ please I need steps for the...

1. Lucy deposited $1,300 at the end of every month into an RRSP for 9 years....

1. Lucy deposited $1,300 at the end of every month into an RRSP for 9 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 6 years. What was the accumulated value of the RRSP at the end of 9 years? ( pls give me solution too ) 2. While buying a new car, Helen made a down payment of $1,100.00 and agreed to make month-end payments...

Steve Lee contributes $1035 at the end of every 3 months into an RRSP. Interest on...

Steve Lee contributes $1035 at the end of every 3 months into an RRSP. Interest on the account is 6% compounded monthly. a) What will be the balance after nine years? b) How much of the balance will be interest? c) If Steve converts the balance after nine years into an RRIF earning 5% compounded monthly and makes equal withdrawals at the end of every three months for eight years, what is the size of the withdrawal?

At the end of every year an investor pays £2,000 towards additional voluntary contributions to build...

At the end of every year an investor pays £2,000 towards additional voluntary contributions to build up a private pension fund. The investor intends to retire in 30 years and wants the pension fund to contain at least £100,000 at the date of retirement. What is the annual effective rate at which the contributions should accumulate? (Perform few steps of both the bisection method and the interpolation method with suitable starting values)

Lucy purchases a retirement annuity that will pay her $2,000 at the end of every six...

Lucy purchases a retirement annuity that will pay her $2,000 at the end of every six months for the first twelve years and $800 at the end of every month for the next seven years. The annuity earns interest at a rate of 3.1% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Lucy receive from the annuity? Round to the nearest cent

olly purchases a retirement annuity that will pay her $2,500 at the end of every six...

olly purchases a retirement annuity that will pay her $2,500 at the end of every six months for the first twelve years and $300 at the end of every month for the next five years. The annuity earns interest at a rate of 4.3% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Holly receive from the annuity? Round to the nearest cent

Question