Marie-Eve and Samuel are meeting for the first time with a financial planner at their financial institution. They are planning the purchase of their first home by the end of this year and want to know more about government programs available to help them. Both have recently turned 25 and have contributed the maximum permitted to their TFSAs from gifts received from their parents. Only Samuel has an RRSP - currently valued at $65,000. They plan to use the funds in their TFSAs and draw down the maximum, if they qualify, under the Home Buyers' Plan towards the down payment and $15,000 of closing costs.

How much has each contributed to a TSA? Assuming each contribution was made at year-end and they have earned a 5% effective annual return, how much would they have to put toward a down payment by the end of this vear (2023)? Their 2023 contribution will be made on December 31, 2023. Round to the nearest dollar. Expand the table as required.

2016-2018 ( Each contributed $5500 every year )

2019-2022( Each contributed $6000 every year )

2023 ( Each contributed $ 6500 every year )

You can use CRA website for more help.