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Suman deposited $95 000.00 in an RRSP on April 1, 2016, at 8.22% compounded quarterly. Subsequently ...

majarm

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Suman deposited $95 000.00 in an RRSP on April 1, 2016, at 8.22% compounded quarterly. Subsequently ...

Suman deposited $95 000.00 in an RRSP on April 1, 2016, at 8.22% compounded quarterly. Subsequently the interest rate was changed to 8.5% compounded monthly on September 1, 2016, and to 8.8% compounded semi-annually on June 1, 2017. What was the value of the RRSP deposit on December 1, 2017, if no further changes in interest were made?
A) $97446.55
B) $103837.72
C) $108406.58
D) $101734.20
E) $112975.44

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Contemporary Business Mathematics with Canadian Applications

Edition: 11^th

Authors: Hummelbrunner, Halliday, Hassanlou, Coombs

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