Jenna intends to contribute $2500 to her RRSP at the beginning of every six months, starting today. The financial adviser has advised Jenna that if she continues her contributions for 20 years, the RRSP would earn 8% compounded semi-annually for the first 7 years and 7% compounded semi-annually, thereafter. What amount will Jenna have in the plan after 20 years?
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= 4% and n =...View Answer
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