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Hillier Hillier
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Posts: 550
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6 years ago
Woods has contributed $3600.00 per year for the last ten years into a RRSP account earning 9% compounded annually. His wife Karen, on the other hand, contributed $300 at the end of every month for the same period into a RRSP account earning 9% compounded monthly. Who earns more interest at the end of 10 years and by how much?
A) Wood by $3360
B) Karen by $3360
C) Wood by $54 695
D) Karen by $58 054
E) Karen by $22 054
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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