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26. You plan to retire in 35 years. Two savings plans have been presented to you, both earn 7.5% p.a compounded annually. Plan A has

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26. You plan to retire in 35 years. Two savings plans have been presented to you, both earn 7.5% p.a compounded annually. Plan A has annual fees and transaction costs of 1.1% per year of your assets, whereas Plan B has annual fees and transaction costs of 0.08%. Regardless of which plan you choose; you plan to contribute $6000 per year. How much extra money will you have upon retirement if you choose Plan B? Assume you are saving into your TFSA. (4 marks)

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