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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

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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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