For the past 29 years, Ben has contributed $1,830 to his RRSP at the end of every 3 months. The plan earned 7 70% compounded annually for the first 15 years and 7.50% compounded quarterly for the subsequent 14 years What is the value of his RRSP today? For full marks your answerts) should be rounded to the nearest cent RRSP value $0.00

Q: Vusa has invested $420000 in an annuity that pays interest at the rate of 3.6% per annum,…

A: Future Value: The future value is the amount that will be received at the end of a certain period.…

Q: An insurance settlement of $1.5 million must replace Trixie Eden's income for the next 35 years.…

A: Present value (PV) = $1,500,000 Interest rate = 7.5% Monthly interest rate (r) = 7.5%/12 = 0.625%…

Q: (10 marks) Robert contributes $700.00 at the beginning of every month into an RRSP paying interest…

A: The future value of the cash flow is the future worth of the cash flow at a required rate of return.…

Q: you are to receive $ 16700 from your trust fund in 7.5 years. you negotiate a deal where you can…

A: Future value refers to the value of current asset at some future date affected by interest and…

Q: Find the future value.

A: Time value of money is one of the most fundamental and basic concepts of investing. The phrase “Time…

Q: Mr.Myers has contributed $137.00 at the end of each month into an savings fund paying 5% per annum…

A: The effective annual interest rate describes the actual interest rate associated with an investment…

Q: John takes out a 5 year loan for $10000 at 8% interest compounded monthly. Calculate his monthly…

A: The annuity is an amount that is paid back to the loan amount which consists of interest payments…

Q: Mr. Kinders has contributed $116.00 at the end of each month into an RRSP paying 6% per annum…

A: Monthly contribution (P) = $116.00 Interest rate = 6% Monthly interest rate (r) =…

Q: You are golng to receive three perpetuities. Perpetulty 1 will pay $450 each year, with the first…

A: There are 3 annuities. We need to compute the present value of these annuities first and then we can…

Q: Roger Baker has accumulated $775,000 in his RRSP and is going to purchase a 20-year annuity from…

A: An Annuity is simply a fixed amount which will be received by Roger Baker at every month-end Present…

Q: Stephen deposited $1,200 at the end of every month into an RRSP for 8 years. The interest rate…

A: Amount deposited at the end of every month is $1200 Time period is 8 years Interest rate for first…

Q: Kelly Malone plans to have $46 withheld from her monthly paycheck and deposited in a savings account…

A: Time value of money is a concept where interest component for the time period money taken is…

Q: Starting in 2012, Ira Roth places $5,000 in a Roth IRA at the beginning ofeach year for the next 40…

A: Computation of amount in the account after 40 years:

Q: Lauren deposited $1,200 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Deposit = 1200 per month END OF PERIOD DEPOSITS Time Period = 7 Years  × 12 = 84 Months   Semi…

Q: Jaime Bickers invests $4000 at the end of each semiannual period for 8 years. His financial advisor…

A: Calculate the future value as follows:

Q: Jessie has been contributing $250 at the end of each 6 - month period for the past 18 months to a…

A: Semi annual Contribution is $250 Interest rate Compounded semi annually is 6% Time period is one…

Q: Your firm has estimated the following cash flows for tw mutually exclusive capital investment…

A: Discounting payback period is calculated by discounting the cash flows of the projects. Discounting…

Q: What should be the balance in a Registered Retirement Income Fund (RRIF) that w rovide $2,500 at the…

A: More is the compounding of interest more is the interest being accumulated over the period of time…

Q: Akbar has borrowed $48,000 today and agreed to repay it in 5 years with monthly payments at the…

A: Given information: Amount borrowed is $48,000 Interest rate is 2.60% Number of years is 5 years

Q: Gabry Ponte has a contract in which he will receive the following payments for the next five years:…

A: Time value of money is a concept where we consider interest eliminate for time period. This concept…

Q: raj contributes $350 at the begining of every month into an rrsp 5.5% compounded semi annually what…

A: Dear student, to solve this question we have to use the formula of the future value of the annuity.…

Q: Sally has a sum of $26000 that she invests at 12% compounded monthiy. What equal monthly payments…

A: solution the present value of annuity technique is used for the problem where the equal annual…

Q: Mr. Kinders has contributed $189.00 at the end of each month into an RRSP paying 3% per annum…

A: Here, Monthly Contribution is $189 Interest Rate is 3% Compounding Period is Annual i.e 1

Q: Kaileika's retirement plan consists of contributing $123 at the end of each month into an RRSP. If…

A: Future value of money is the amount of investment done and amount of interest accumulated over the…

Q: adam made an investment of $33,000. The investment pays 7.75% p.a. compounded quarterly. He will be…

A: Amount of investment made is $33,000 Interest rate is 7.75% P.A. Compounded Quaterly   To Find:…

Q: ry six months into an in 10 years and 6 mon

A: In this sum, the future value of the fund at the end of the given period must the calculated.

Q: Faith saves for retirement by depositing $550 each month into an account which earns an APR of 3.5%…

A: The amount invested in financial instruments at a specified APR could be compounded at any frequency…

Q: When Michelle retires in 12 years, she wants to receive $250.00 payments at the start o every month…

A: An annuity is the equal amount of payment that has to be paid over the period.

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.