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Celine is 30 years old and just started a new job. She is quite excited as her company matches her Registered Retirement Savings Plan (RRSP)
Celine is 30 years old and just started a new job. She is quite excited as her company matches her Registered Retirement Savings Plan (RRSP) contributions in the company Group RRSP and believes that she will have sufficient funds for when she retires in 30 years. She plans on contributing $500 each pay (she is paid on the 1st of each month) and will do so for 5 years. She then plans on doubling the contributions to $1,000 each pay for the remaining 25 years. The company matches her contributions at the beginning of each month as well. Assuming a 4%, compounded monthly rate, what will be the value at Celine's retirement in 30 years? $1,229,258 $1,256,722 $1,254,149 $1,212,206 O $1,208,179
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