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(Solved): Mr. Merkel has contributed $82.00 at the end of each month into an RRSP paying 5% per annum compoun ...




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Mr. Merkel has contributed at the end of each month into an RRSP paying per annum compounded quarterly. How much will Mr. Merkel have in the RRSP after 12 years? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)


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The future value of an annuity is defined by

  
Here    Periodic amount ,    interest rate
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