How much will a registered retirement savings deposit of $10000.00 be worth in 15 years at 6.00% compounded quarterly? How much of the amount is interest?

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asked Dec 18, 2018 225k views

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Mconner · Answer 1 · 2018-12-21T22:39:01+0000

The future worth of the savings will be 12,502. Its formula is F= P (1+ r/m)^n, substituting the given Principal, rate, compounding period and year to the equation. While the rate of interest is rate/compounding year, the answer would be 0.015.

How much will a registered retirement savings deposit of $10000.00 be worth in 15 years at 6.00% compounded quarterly? How much of the amount is interest?

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