Sebastin Has Made Contributions of $2,000 to His RRSP at the End

question 125

Short Answer

Sebastin has made contributions of $2,000 to his RRSP at the end of every six months for the past eight years. The plan has earned 5.5% compounded semi-annually. He has just moved the funds to another plan, paying 4% compounded quarterly. He will now contribute $1,500 at the end of every three months. What total amount will he have in the plan seven years from now?

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Definitions:

Structural Equivalence

A concept often used in network analysis and sociology, referring to the degree to which entities in a network have a similar pattern of connections to others, irrespective of the entities' individual attributes.

Narrow Deficits

Specific, limited areas of difficulty or deficiency in cognitive function or ability.

Blind Participants

Individuals who are visually impaired taking part in activities or research studies.