Ellora Wants to Accumulate $150 000

question 85

Essay

Ellora wants to accumulate $150 000.00 in an RRSP by making annual contributions of $5000.00 at the beginning of each year. If interest is 5.5% compounded quarterly, calculate how long she has to make contributions.

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Definitions:

Distance Learning

An educational approach that allows students to study without being physically present in a classroom.

CINAHL

Stands for Cumulative Index to Nursing and Allied Health Literature, a comprehensive database of nursing and allied health journals.

Telehealth

The sharing of nursing information using electronic means, such as a telephone or the Internet, to answer consumers’ questions.