After 15 Years of Contributions of $3,500 at the End

question 82

Multiple Choice

After 15 years of contributions of $3,500 at the end of every six months to a Retirement Savings Plan, the accumulated amount stood at $232,536. What semi-annually compounded nominal rate of return was earned by the funds in the RSP?

• A) 2.5%
• B) 5.0%
• C) 7.5%
• D) 10.0%
• E) 12.5%

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Definitions:

Past Few Decades

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Legislation that sets the lowest hourly wage rate that an employer can legally pay to workers.

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