Romeo Started an RRSP on March 1, 2016, with a Deposit

question 20

Multiple Choice

Romeo started an RRSP on March 1, 2016, with a deposit of $35 000.00. She added $19 000.00 on December 1, 2017, and $8500.00 on September 1, 2018. What is the accumulated value of her account on December 1, 2020, if interest is 6.6% compounded monthly?

• A) $39272.78
• B) $41260.10
• C) $47846.07
• D) $70993.80
• E) $80850.58

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Definitions:

Grade-School Age

The period in a child's life when they are attending elementary or primary school, typically between the ages of 6 to 12 years.

Initiated

The process of beginning something or being introduced into a new project, status, or activity.

Nontraditional Families

Family structures that deviate from the traditional model of two biological parents raising their children, such as single-parent families, blended families, and same-sex parent families.

Traditional Families

Family structures typically consisting of a mother, father, and their biological or adopted children, emphasizing conventional roles and values.