After 10½ Years of Contributions of $2,000 at the End

question 138

Short Answer

After 10½ years of contributions of $2,000 at the end of every six months to an RRSP, the accumulated amount stood at $65,727.82. What semi-annually compounded nominal rate and effective annual rate of return were earned by the funds in the RRSP?

---

Definitions:

Self-Esteem

The subjective evaluation of one's own worth or abilities.

University Cafeteria

A dining area within a college or university where students, faculty, and sometimes the public can eat.

Ideally Attractive

Attributes or qualities perceived as most desirable or appealing to the majority within a cultural context.

Weigh

To assess or consider the importance, effect, or value of something.