Here is the equation:
Stephanie started an RRSP on March 1, 2010 with a deposit of $2000. She added $1500 on December 1, 2012 and will add $1800 on September 1, 2014. What will be the accumulated value on her account on December 1, 2021, if interest is 6.5% compounded quarterly?
I am having a tough time with this one. I believe I need to use PV = FV (1 + i) but am unsure. Can anyone help!
Stephanie started an RRSP on March 1, 2010 with a deposit of $2000. She added $1500 on December 1, 2012 and will add $1800 on September 1, 2014. What will be the accumulated value on her account on December 1, 2021, if interest is 6.5% compounded quarterly?
I am having a tough time with this one. I believe I need to use PV = FV (1 + i) but am unsure. Can anyone help!