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b. If the cost of long-term care is increasing at 6 percent a year, what will be the approximate monthly cost for Fran's mother cight
b. If the cost of long-term care is increasing at 6 percent a year, what will be the approximate monthly cost for Fran's mother cight years from now? Show your calculations or calculator keystrokes. (2 marks) P=14050 c. Fran and Ed plan to deposit $2,750 a year to their RRSPs for 35 years. If they earn an average annual return of 5 percent, what would be the value of their RRSPs after 35 years? Show your calculations or calculator keystrokes. (2 marks)
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