Question
Don has just turned 43 and has accumulated $35 500 in his RRSP. He makes month-end contributions of $300 to the plan and intends to
Don has just turned 43 and has accumulated $35 500 in his RRSP. He makes month-end contributions of $300 to the plan and intends to do so until he retires at the age of 60. The RRSP will be allowed to continue to accumulate until he reaches the age of 65. If the RRSP earn 8% compounded monthly for the next 22 years, what amount will his RRSP contain, when he reaches age 65?
| A. | 397493 | |
| B. | 267231 | |
| C. | 392355 | |
| D. | 398134 |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
