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20 June, 09:32

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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  1. 20 June, 09:40
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    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.
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