Alexander made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years, the fund had an accumulated value of $45,000. If the RRSP was earning 3.50% compounded monthly, what was the size of the quarterly deposits? Round to the nearest cent
Alexander made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years, the fund had an accumulated value of $45,000. If the RRSP was earning 3.50% compounded monthly, what was the size of the quarterly deposits? Round to the nearest cent
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Alexander made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years, the fund had an accumulated value of $45,000. If the RRSP was earning 3.50% compounded monthly, what was the size of the quarterly deposits?
Round to the nearest cent
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