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In: Advanced Math

M r. and Mrs. Fox have each contributed $1235.00 per year for the last eight years...

M r. and Mrs. Fox have each contributed $1235.00 per year for the last eight years intoRRSP accounts earning 4.3% compounded annually. Suppose they leave theiraccumulated contributions for another five years in the RRSP at the same rate of interest.

a) How much will Mr. and Mrs. Fox have in total in their RRSP accounts?

b) How much did the Fox's contribute?

c) How much will be interest?

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Colby Messinger answered 1 year ago
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