Juliana has contributed $2.108.00 every six months for the last 9 years into an RRSP fund The interest earned by these deposits was 4% compounded semi-annually for the first 3 years and 5% compounded semi-annually for the last 6 years. How much money is currently in the RRSP? The balance is $ (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed)

Juliana has contributed $2.108.00 every six months for the last 9 years into an RRSP fund The interest earned by these deposits was 4% compounded semi-annually for the first 3 years and 5% compounded semi-annually for the last 6 years. How much money is currently in the RRSP? The balance is $ (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Rosa has a annuity worth $20, 000 to help pay for expenses while they are in a year-long (12-month) masters program. The annuity earns 5.4 % compounded monthly. Using the present value annuity formula, they find the will receive $1708 monthly during this time, sent to them at the start of the month. Fill in the table to track how much money remains in the annuity after each month. Round answers to 2 decimal places and use rounded answers in subsequent calculations. Time (Months) 0 2 3 Balance at start of month (after payment) $ $ $ Interest Earned during Time Period $ s $ Balance at end of month $ 20,000 $ $ $
Jeff deposits 10 into a fund today and 20 fifteen years later. Interest for the firstten years is credited at a nominal discount rate of d compounded quarterly, and thereafterat a nominal interest rate of 6% compounded semiannually. The accumulated balance in thefund at the end of 30 years is 100. Calculate d.
Lucy won a large sum in the lottery. She invested part of her winnings into a fund earning 7.95% compounded monthly. She has arranged a systematic withdrawal plan that provides for 120 monthly payments increasing at a constant rate of 0.9% per payment. The first payment of $850 is due one month after she set up the fund. How much interest is included in the payments?
K Calculate the total interest and principal portions for the series of monthly payments of $166.95 that occur during year 7, for an ordinary annuity of $13,500 with 8.5% interest compounded quarterly for 10 years. Round your answers to two decimal places. Principal Number Interest Number
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Theodore makes beginning of year deposits of 3000 for 10 years into a fund earning interest at an annual effective interest rate of 5%. At the end of each year, the interest earned is deposited into a second fund earning interest at an annual effective interest rate of 6%. Find the total accumulated value of his assets at the end of 10 years.
4. P240,000 will be deposited in a fund at the beginning of each six months for 5 yrs. Using 11% as the interest rate compounded semi-annually, compute how much is in the fund at the end of 4 ½ years just after the last deposit. (use 2 decimal places for your final answer)
Marissa converted an RRSP balance of $125,000 into an RRIF that will pay he $1,850 at the end of every month for 9 years. What is the nominal annual rate interest compounded semi-annually? 11.58% 0.97% 11.92% 5.79%
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Ellen Quarles recently opened a savings account. If Ellen deposits $1000 and the amount compounded annually at 8%, how much will Ellen have at the end of five years (round your answer to the nearest dollar)? Compound Value Interest Factors Period 2% 4% 6% 2 1.8200 1.0400 10600 10800 1.0404 1.0016 11236 16640 3 10612 1.1249 1.1910 12597 4 1.0824 1.1699 12625 5 1.1041 12167 1.1262 13653 7 1.1487 13159 13382 14693 14185 15869 15036 1.7138 1.1717 13686 15938 18509 1 9 · 10 11 12 13 14 15 16 17 18 19 20 12% 15% 20% 10% 1.1000 1.1200 1.1500 1.2000 12100 12544 13225 14400 13310 1.4049 15209 1.7280 1.3605 14641 15735 16105 1.7623 20114 24683 1.7490 20736 17716 1.9738 23131 2.9860 19487 22107 26600 3.5832 1.1951 14233 1.6895 1.9990 2.3579 2.7731 35179 5.1598 2.1436 24760 3.0590 42998 1.2190 14902 1.7908 21589 25937 3.1058 12434 15395 13983 23316 40456 6.1917 12682 16010 20122 25182 3.1384 3.8960 53502 2.8531 34785 46524 74301 12936 1.4451 21329 27196 6.9161 13195 12317 22609 29372 34523 43635…
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Sue has contributed $2,843.00 every three months for the last 11 years into an RRSP fund. The interest eamed by these deposits was 9% compounded quarterly for the first 5 years and 6% compounded quarterly for the last 6 years. How much money is currently in the RRSP? The balance is $ (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.).

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