Max invested $9,000 per year in his RRSP each year for 20 years. If interest is 4% compounded quarterly, determine how much interest was earned at the end of this period.
A) $98,111.50
B) $95,682.45
C) $91,505.44
D) $89,688.56
E) $87,207.68

Question

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The Answer of Max invested $9,000 per year in his RRSP each year for 20 years. If interest is 4% compounded quarterly, determine how much interest was earned at the end of this period.
A) $98,111.50
B) $95,682.45
C) $91,505.44
D) $89,688.56
E) $87,207.68

Max Invested $9,000 Per Year in His RRSP Each Year