Jawad Makes Semi-Annual Contributions of $2000 Starting on His 27th

question 87

Multiple Choice

Jawad makes semi-annual contributions of $2000 starting on his 27th birthday. How much will he accumulate in his RRSP by age 60, if RRSP earns 8% compounded semi-annually and no contribution is made on his sixtieth birthday?

• A) $615 535
• B) $640 156
• C) $565 324
• D) $587 937
• E) $669 842

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Definitions:

MOOCs

Massive Open Online Courses, which are free online courses available for anyone to enroll and provide large-scale interactive participation.

Community of Practice

A group of people who share a concern or passion for something they do and learn how to do it better through regular interaction.

Self-directed Learning

Learning that is driven by the learner, including the determination of learning goals, methods, and evaluation of progress.

Adaptive Learning

An educational approach which uses algorithms and artificial intelligence to adapt the presentation of educational material according to the individual learner's needs.