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Case Study Group 2 :LNU, DiyaCruz, Eljean BasaSajor, Ema Mae CorveraSingh, GurkiratSingh, GurtajpinderBabaranti Aiyede, Habeebah OluwabunmiSingh, HarjotPatel, HeminAtienzo, James Gabriel Toraldo Investing in a Tax
Case Study Group :LNU, DiyaCruz, Eljean BasaSajor, Ema Mae CorveraSingh, GurkiratSingh, GurtajpinderBabaranti Aiyede, Habeebah OluwabunmiSingh, HarjotPatel, HeminAtienzo, James Gabriel Toraldo Investing in a TaxFree Savings AccountAt the age of Tasha Fellows obtained her university degree and entered the workforce. She sought the opinion of an investment advisor regarding a taxfree savings account TFSA The main recommendations were to start investing early, to invest the maximum allowed each year, and to stay invested. Someone starting a career needs to consider investing as early as possible.The advisor provided Tasha with scenarios of investing $ per month at return at different age ranges and calculated the value of her investment at age Tasha was shown that starting to contribute at a later age but still wanting to reach a goal of $ would require larger monthly contributions.Questions How much more will Tasha have in her TFSA if she invests the $ per month starting at age compared to starting at age To reach a goal of $ what is the total amount of contributions necessary if Tasha were to begin investing at age If Tasha begins her contributions at age how much interest will be earned on the contributions ifa. her contributions are $ per month?b her contributions are $ per month? Assume Tashas salary is $ per year. Calculate the percentage of her monthly salary that would go toward her retirement plan goal of $a if she began investing $ monthly at age b if she began investing $ monthly at age
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