How long will it take an RRSP to grow to $880,000 if it takes in...
50.1K
Verified Solution
Link Copied!
Question
Finance
How long will it take an RRSP to grow to $880,000 if it takes in month-end contribution of $1,800 and earns: (Do not round intermediate calculations. Round up the number of contributions to the next integer.)a. 5.9% compounded monthly? years, month(s) b. 7.9% compounded monthly? years, month(s) c. 10.6% compounded monthly? years, month(s) d. 11.6% compounded monthly? years, month(s)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!