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Philippe Contributed $4,300 to an RRSP Eight Years and Six

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Short Answer

Philippe contributed $4,300 to an RRSP eight years and six months ago. The money was invested in a Canadian Equity mutual fund. The investment is now worth $5537.82. Over the entire period, what monthly compounded nominal rate of return has the investment delivered?


Definitions:

Ethnic Tolerance

The acceptance and respect for various ethnic groups, cultures, and practices, promoting a harmonious and inclusive society.

Military Supremacy

The dominant position of a state's armed forces over those of other countries, enabling it to conduct military operations with higher effectiveness and efficiency or deter potential threats.

Road To Serfdom

A book by Friedrich Hayek, published in 1944, warning of the potential dangers of government control leading to totalitarianism, arguing for the preservation of individual freedoms.

Laissez-Faire Economics

An economic philosophy of free-market capitalism that opposes government intervention.

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