Sparky Will Invest $7,500 into His RRSP at the End

question 91

Multiple Choice

Sparky will invest $7,500 into his RRSP at the end of each year for 30 years. How much more money will he have in 30 years if he is able to earn 13% compounded annually rather than 11% compounded annually?

• A) $149,266
• B) $219,899
• C) $304,261
• D) $589,114
• E) $706,338

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Definitions:

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A distinct variety of English spoken in Jamaica, characterized by its unique lexicon, pronunciation, and grammatical features, stemming from a blend of African linguistic structures and English.

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