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Peter deposits $1267 at the end of every month in an RRSP that is earning 4.18% compounded semi-annually. For the RRSP to accumulate to $52861, calculate the following: How many deposits will he have to make? Round up to the next whole number

Peter deposits $1267 at the end of every month in an RRSP that is earning 4.18% compounded semi-annually. For the RRSP to accumulate to $52861, calculate the following: How many deposits will he have to make? Round up to the next whole number

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Peter deposits $1267 at the end of every month in an RRSP that is earning 4.18% compounded semi-annually. For the RRSP to accumulate to $52861, calculate the following: How many deposits will he have to make? Round up to the next whole number
Transcribed Image Text:Peter deposits $1267 at the end of every month in an RRSP that is earning 4.18% compounded semi-annually. For the RRSP to accumulate to $52861, calculate the following: How many deposits will he have to make? Round up to the next whole number
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