every six months are projected to generate a plan worth $550,000 in 25 years, what nominal rate compounded semi-annually and effective rates o return were assumed in the forecast? (Do not round intermediate calculations and round your final answers to 2 decimal places.) N 0
every six months are projected to generate a plan worth $550,000 in 25 years, what nominal rate compounded semi-annually and effective rates o return were assumed in the forecast? (Do not round intermediate calculations and round your final answers to 2 decimal places.) N 0
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![If RRSP contributions of $3530.02 at the end of
every six months are projected to generate a plan
worth $550,000 in 25 years, what nominal rate
compounded semi-annually and effective rates of
return were assumed in the forecast? (Do not
round intermediate calculations and round your
final answers to 2 decimal places.)
Nominal rate of return
%
Effective rate of return
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd59f9024-b4d4-465e-8a41-eb9d9f4797eb%2F8b0c6bea-0945-46ae-87df-058f8df8009a%2F3mqv6q3_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If RRSP contributions of $3530.02 at the end of
every six months are projected to generate a plan
worth $550,000 in 25 years, what nominal rate
compounded semi-annually and effective rates of
return were assumed in the forecast? (Do not
round intermediate calculations and round your
final answers to 2 decimal places.)
Nominal rate of return
%
Effective rate of return
%
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