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9. John and Elizabeth estimate they can save $10,000 per year in their RRSPs for each of the next 5 years toward their retirement. They

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9. John and Elizabeth estimate they can save $10,000 per year in their RRSPs for each of the next 5 years toward their retirement. They anticipate earning 8% on their balanced mutual fund. This 8% includes inflation of 2.5%. Their real rate of return is expected to be: a. 8.00% b. 5.50% C. 5.37% d. 10.70%

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