Sebastin has made contributions of $2,000 to his RRSP at the end of every six months for the past eight years. The plan has earned 5.5% compounded semi-annually. He has just moved the funds to another plan, paying 4% compounded quarterly. He will now contribute $1,500 at the end of every three months. What total amount will he have in the plan seven years from now?

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The Answer of Sebastin has made contributions of $2,000 to his RRSP at the end of every six months for the past eight years. The plan has earned 5.5% compounded semi-annually. He has just moved the funds to another plan, paying 4% compounded quarterly. He will now contribute $1,500 at the end of every three months. What total amount will he have in the plan seven years from now?

Sebastin Has Made Contributions of $2,000 to His RRSP at the End