How many deposits will have to make

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Reference no: EM132735722

Victoria deposits $1,500 at the end of every 3 months in an RRSP that is earning 6.90% compounded semi-annually. For the RRSP to accumulate to $32,000, calculate the following:

Problem a. How many deposits will he have to make?

Problem b. How long will he have to make these deposits? years months

Express the answer in years and months, rounded to the next payment period

Reference no: EM132735722

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