Kaan, a $55-$year$-$old software engineer, earned a pre$-$tax income of $$200,000$ in $2024.$ He plans to quit his

current job in $10$ years to start his own business. Kaan already holds several accounts with RBC but intends

to open new TFSA, RRSP$,$ and non$-$registered investment accounts with TD Bank. He will allocate funds

in TD Bank for his business venture while reserving funds in RBC for emergencies and retirement. Kaan

has the capacity to save $$100,000$ annually in real, before tax dollars and will only deposit to TD bank

accounts from now on until retirement. His savings strategy includes contributions to a TFSA, RRSP$,$ and

non$-$registered investment account at TD Bank.

In $2024,$ he will contribute to the TFSA up to the $2024$ annual limit$,$ with contributions increasing annually

to match the inflation rate. The RRSP contribution remains fixed at $$20,000$ in real dollars due to employer

contributions. Any remaining savings are directed to the non$-$registered investment account. Contributions

occur at year$-$end. Kaan is predicted to have a marginal tax rate of $50\%$ indefinitely. The inflation rate is

$1\mathrm{.}5\%,$ and the nominal rate of return on all investments is $6\%.$ Kaan plans to withdraw the full amount from

each account after $10$ years.

Assume TFSA and RRSP contribution limit to increase every year exactly matching inflation.

No contribution rooms of TFSA and RRSP were carried over from previous years.

Be aware of the characteristics of each account you found in part $($a$)$ when answering parts $($c$)-$

$($e$)$ of the question.

Required:

$($a$)$ Below is a table comparing the characteristics of TFSA, RRSP$,$ and non$-$registered

investment accounts. Fill in the blanks with the appropriate information for each account

type. $(4$ marks$)$

$($b$)$ Calculate Kaan's $(1)$ nominal before$-$tax return, $(2)$ nominal after$-$tax return, $(3)$ real

before$-$tax return, and $(4)$ real after$-$tax return on investments. $(4$ marks$)|$

Round your answer to four decimal points $($e$.$g$.,0\mathrm{.}1234$ or $12\mathrm{.}34\%)$