Here the question that i hope to get some help on...
After 10½ years of contributions of $2,000 at the end of every six (6) months to an RRSP, the accumulated amount stood at $65,727.82. What semi-annually compounded nominal rate and equivalent compounded monthly rate of return were earned by the funds in the RRSP?
Using my calculator I got this far...
4.2507 would be the periodic monthly rate, correct?