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What amount will rrsp contain

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Nina, just turned 30, has already accumulated $10,000 in her Registered Retirement Savings Plan. She intends to continue to make deposits of $150 at the end of every month until age 62. She plans to retire then and cease further contributions. The RRSP will be allowed to continue to accumulate interest until she reaches age 65.

Question 1: If the RRSP earns 4.2% compounded monthly for the entire duration, what amount will her RRSP contain when she reaches age 65?

Reference no: EM132570995

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