Roxanne contributes $167.00 at the beginning of every six months into an RRSP paying interest at 8.9% compounded semi-annually.
a) How much will her RRSP deposits amount to in 31.5 years?
b) How much of the amount will be interest?

Question

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The Answer of Roxanne contributes $167.00 at the beginning of every six months into an RRSP paying interest at 8.9% compounded semi-annually.
a) How much will her RRSP deposits amount to in 31.5 years?
b) How much of the amount will be interest?

Roxanne Contributes $167