How much larger will the value of an RRSP be at the end of 25 years if the RRSP earns 9% compounded monthly instead of 9% compounded annually?
In both cases a contribution of $1,000 is made at the end of every three months.

Compounded Monthly

Interest on an investment or loan is calculated and added to the principal amount on a monthly basis.

RRSP

Registered Retirement Savings Plan, a Canadian investment vehicle for individuals to save for retirement on a tax-sheltered basis.

Compounded Annually

The process of calculating interest on both the initial principal and the accumulated interest from previous periods, applied once per year.