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:

Heart Disease

A range of conditions affecting the heart, including congenital heart defects, arrhythmias, and diseases of the heart's blood vessels.

Diabetes

Diabetes is a chronic health condition where the body’s ability to produce or respond to the hormone insulin is impaired, resulting in abnormal metabolism of carbohydrates and elevated levels of glucose in the blood.

Obesity

A medical condition characterized by excess body fat that presents significant risk to health, often resulting from a combination of genetic, behavioral, and environmental factors.

Albinism

A genetic condition characterized by the absence of pigment in the skin, hair, and eyes, leading to varying degrees of lightening and visual problems.