Question
Eric knows that he must repay the withdrawal from his Registered Retirement Savings Plan (RRSP) under the Home Buyers Plan (HBP). As his cashflows are
Eric knows that he must repay the withdrawal from his Registered Retirement Savings Plan (RRSP) under the Home Buyers Plan (HBP). As his cashflows are tight with this new home purchase, he would like to stretch out the repayments. What is the formula for the minimum amount that he must repay for these withdrawn funds?
Points: 1
- The minimum annual repayment is equal to the total HBP withdrawal divided by the mortgages amortization period
- None of the responses
- The minimum annual repayment is equal to the total HBP withdrawal divided by 10 years
- The minimum annual repayment is equal to the total HBP withdrawal divided by 15 months
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Finance At The Threshold
Authors: Christopher Houghton Budd
1st Edition
0566092115, 978-0566092114
