Mr. Kinders has contributed $189.00 at the end of each month into an RRSP paying 3% per annum compounded annually How much will Mr. Kinders have in the RRSP after 12 years? S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed) How much of the above amount is interest? (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed.)

Mr. Kinders has contributed $189.00 at the end of each month into an RRSP paying 3% per annum compounded annually How much will Mr. Kinders have in the RRSP after 12 years? S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed) How much of the above amount is interest? (Round the final answer to the nearest cent as needed Round all intermediate values to six 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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Similar questions

Vv. Mary will receive $12,000 per year for the next 10 years as royalty for her work on a finance book. What is the present value of her royalty income if the opportunity cost is 12 percent? Assume that payments come at the end of each year. O $235,855 O $75,939 O $210,585 O $67,803
Asa has invested money from the settlement of an insurance claim. She plans to withdraw $14,080 from her savings account at the end of each year for five years. If the payments are deferred for four years and interest is 8% compounded quarterly, what was the amount of the insurance settlement? The insurance settlement was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
Paul intends to retire in 15 years and would like to receive $1,500 every month for 20 years, starting at the end of the first month in which he retires. How much must he have at the beginning of retirement if interest is 5% compounded annually? Select one: a. $191,834.03 b. $229,415.16 c. $228,235.00 d. $227,287.97 e. $230,349.83
Milly Cabellero has laken o 20 year, $268, 000 mongage on her house at an interest rate of 6 percent per year. What is the remaining balance (or value) of the morkgige after the paymem of the fifth annual installment? Aultigho Choke 5226, 931, 18
Subject:
Miguel's retirement fund has an accumulated amount of $50,000. If it has been earning interest at 4.25% compounded monthly for the past 22 years, calculate the size of the equal payments that he deposited at the beginning of every 3 months. Round to the nearest cent
Susan won the lottery today which will pay an annual perpetuity of X, with the first payment occurring five years from today. The perpetuity has a present value of 100,000 based on an annual effective interest rate of 1% for the first ten years and 5% for all years thereafter. Calculate X. A. 4,100 B. 4,224 C. 4,357 D. 4,401 E. 5,696
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%
Mr. De Castro wishes to have P1,400,000.00 when he retires 15 years from now. If he can expect to receive 4% annual interest, how much must he set aside in each of 15 equal annual beginning of year deposits.Mr. De Castro wishes to have P1,400,000.00 when he retires 15 years from now. If he can expect to receive 4% annual interest, how much must he set aside in each of 15 equal annual beginning of year deposits.
None
Asa has invested money from the settlement of an insurance claim. She plans to withdraw $1,560 from her savings account at the end of each quarter for three years. If the payments are deferred for ten years and interest is 5% compounded monthly, what was the amount of the insurance settlement? The insurance settlement was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
When Jesse retires in 20 years, he wants to receive $1,000.00 payments at the start of every month for 21 years from his RIF that earns 3.40% compounded semi-annually. What beginning of quarter deposits does Jesse have to make into his RRSP that earns 2.20% compounded quarterly for the 20 years until he retires? I PMT= Round to the nearest cent

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