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Jenni Started a Registered Retirement Savings Plan on January 1

Question 98

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Jenni started a registered retirement savings plan on January 1, 2008, with a deposit of $2000. She added $3000 on January 1, 2009, and $2000 on January 1, 2010. What is the accumulated value of her RRSP account on July 1, 2010, if interest is 12% compounded quarterly?

Correct Answer:

verifed

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Balance on Jan. 1, 2009 blured image = 2000.00(1.03)...

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