2 years ago

How much will a registered retirement savings deposit of $13 500.00 be worth in

Mathematics

1 answer:

Serjik [45]2 years ago

5 0

Answer:

33832.80

Step-by-step explanation:

Given that 13500 dollars is deposited in savings bank at 8.44% for 11 years

Compounding quarterly

Effective interest = $\frac{8.44}{400} =0.0211$

Effective time = 11(4) = 44

Hence total amount after 11 years

= $13500(1.0211)^{44} \\=33832.80$

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