Question
Lindsay is looking to put $25,000 at the end of each year into her Registered Retirement Savings Plan (RRSP) for the next 20 years. She
Lindsay is looking to put $25,000 at the end of each year into her Registered Retirement Savings Plan (RRSP) for the next 20 years. She believes that she can earn 4% interest, compounded monthly.
a) How much will Lindsay have saved after 20 years?
Lindsays calculation:
b) If Lindsay decides to withdraw the entire amount in one lump sum in 20 years, what would be the amount that she would receive after taxes, assuming her effective tax rate is 32% at that time?
Lindsays calculation:
c) What is the minimum annual salary that Lindsay needs to earn each year to make a $25,000 annual RRSP contribution?
Lindsays calculation:
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Handbook On Second Lien Loans & Intercreditor Agreements
Authors: Mark N. Berman, Jo Ann J. Brighton
1st Edition
0981865593, 978-0981865591
