# RRSP Deposit

RRSP Deposit

Q1-Robert made equal deposits at the beginning of every 3 months into an RRSP. At the end of 8 years, the fund had an accumulated value of \$45,000. If the RRSP was earning 4.50% compounded monthly, what was the size of the quarterly deposits?

Q2-Robert received a \$29,350 loan from a bank that was charging interest at 4.50% compounded semi-annually.

a. How much does she need to pay at the end of every 6 months to settle the loan in 5 years?

b. What was the amount of interest charged on the loan over the 5-year period?

Q3-A loan of \$36,000.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 5 years.

a. Calculate the size of the periodic payment.

b. Calculate the total interest paid.

Q4-Blake made periodic deposits into a savings account at the end of every month for 5 years. The investments were earning 6.00% compounded quarterly and grew to \$12,375.00 at the end of 5 years.

a. Calculate the size of the month-end deposits.

b. How long will it take for the \$12,375.00 to accumulate to \$31,365.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term?

Q5-Lush Gardens Co. bought a new truck for \$60,000. It paid \$6,000 of this amount as a down payment and financed the balance at 4.24% compounded semi-annually. If the company makes payments of \$1,900 at the end of every month, how long will it take to settle the loan?

Years? Months?

Q6-You plan to save money for a down payment of \$32,000 to purchase an apartment. You can only afford to save \$6,000 at the end of every 6 months into an account that earns interest at 5.50% compounded monthly. How long will it take you to save the planned amount?

Years? Months?

## How do you place an order?

It takes a few steps to place an order with Us:

• The first step is to place your order. You will need to provide us with some basic information about your project.
• Once you have placed your order, you will be taken to our secure payment page.
• Once we receive your order, we will carefully review it and match you with a writer who has the skills and experience.
• Stay in contact with the writer and discuss vital details of research.
• Your completed proposal will be delivered via email within the specified deadline.

### You are secure when using our service

It's critical for each client to feel secure. As a result, we at Research Proposal Writing take precautions to secure your data.

Financial security You may securely pay for your purchase using a variety of secure payment methods.
Personal security The personal information of our clients is secure. Nobody else will have access to it.
Academic security We use a specialized program to check every completed paper to ensure that we deliver no-plagiarism samples.
Web security This website is safe from unauthorized breaches. We maintain our privacy management in line with the latest laws and regulations.