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(a) Maria has just turned 25 years old. She earns an annual salary of $60000. She decided to deposit at the end of each year

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(a) Maria has just turned 25 years old. She earns an annual salary of $60000. She decided to deposit at the end of each year 10% of her salary into an RRSP account with the objective of building a pension fund. She expects her salary to increase by 3% each year. Assuming that her pension fund earns 6%/year compounded annually, how much money will Maria have in her pension fund if she retires at age 65? (NOTE: you did not fully answer part (a), assume for part (b) that the answer to (a) is $1000000 (b) Maria estimates that she will need $10000 per month for living expenses, starting upon turning 65. If the pension money earns 4%/Year compounded annually, how long will Maria be able to live with that pot of money

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