The nominal annual rate of interest

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Reference no: EM132007628

Reese Case.

Reese contributed $1,500.00 every six months into an RRSP for 20 years. What nominal annual rate of interest will the RRSP earn if the balance in Reese's account just after she made her last contribution was $190,000.00. The nominal annual rate of interest is___% compounded semi annually.

(Round to two decimal places as needed.)

And aslo what will be discounted value of payments of $41.00 made at the each month for 6 years by Reese if interest is 7% compounded monthly?

The discounted value is $___.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Reference no: EM132007628

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