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Lenny and Leena are very interested in the Home Buyer s Plan ( HBP ) . In order for them to participate in this type
Lenny and Leena are very interested in the Home Buyers Plan HBP In order for them to participate in this type of loan for a down payment on their home, they know that they need to withdraw from their Registered Retirement Savings Plan RRSP and that they must repay back into their RRSP a certain minimum amount each year. Leena has contributed $ to her RRSP while Lenny has contributed $ to his RRSP As of today, the market value of Leena's RRSP is $ while her spouse's market value of his RRSP is $ If they withdraw the maximum from their RRSPs for their down payment, what is the minimum that they must repay each year under the HBP Hint: The withdrawal limit is $ per person $ per couple after March
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