Amir started contributing $5500 to a TFSA at the end of every year beginning in 2017. In
Question:
Amir started contributing $5500 to a TFSA at the end of every year beginning in 2017. In 2019, the maximum allowable annual contribution was increased to $6000 and Amir planned to continue to contribute the maximum amount at the end of every year for the next 15 years. How much will he have in his TFSA after 15 years of additional contributions if the maximum allowable annual contribution remains at $6000 and his average rate of return is 8% compounded annually?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Business Mathematics In Canada
ISBN: 9781260065992
10th Edition
Authors: F. Ernest Jerome, Tracy Worswick
Question Posted: