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Hillier Hillier
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Posts: 550
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6 years ago
Olivia plans to have $1 000 000 in her RRSP at her retirement at the age of 60. How long will it take her to accumulate $1 000 000 in an RRSP if the first quarterly contribution of $2000 is made today and RRSP is expected to earn 8% compounded quarterly?
A) 30 years and 3 months
B) 30 years 6 months
C) 47 years and 3 months
D) 29 years
E) 28 years 9 months
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
Read 191 times
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Replies
wrote...
6 years ago
A
Hillier Author
wrote...
6 years ago
Correct, thank you
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