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Choose the correct option for each of the following scenarios: (a) You earn $11,000 of income and want to save some money but may want

Choose the correct option for each of the following scenarios: (a) You earn $11,000 of income and want to save some money but may want to withdraw it in the near future.

A. RRSP

B. TFSA

C. Either RRSP or TFSA

(b) You earn $40,000 and want to save for a house purchase likely to occur in about four years.

A. RRSP

B. TFSA

C. Either RRSP or TFSA

A. RRSP

B. TFSA

C. Either RRSP or TFSA

(d) You earn $80,000, are part of a defined benefit pension plan, and want to save more for your retirement.

A. RRSP

B. TFSA

C. Either RRSP or TFSA

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