If TFSA contributions of $10,000 at the end of every year are projected to generate a plan

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If TFSA contributions of $10,000 at the end of every year are projected to generate a plan worth $1,000,000 in 25 years, what effective rate of return was assumed in the forecast?

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Business Mathematics In Canada

ISBN: 9781260065992

10th Edition

Authors: F. Ernest Jerome, Tracy Worswick

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Question Posted: Jul 28, 2022 01:34 AM

If RRSP contributions of $3030.02 at the end of every six months are projected to generate a plan worth $500,000 in 25 years, what nominal and effective rates of return were assumed in the forecast?
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If TFSA contributions of $10,000 at the end of every year are projected to generate a plan

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Business Mathematics In Canada

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