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Meghan is 20 years old and has decided that on January 1st she will contribute $6,500 each year to her Tax-Free Savings Account (TFSA) until
Meghan is 20 years old and has decided that on January 1st she will contribute $6,500 each year to her Tax-Free Savings Account (TFSA) until she turns age 60. Assume it is January 1,2023 , and that Meghan has just made her first TFSA contribution. How much will she have in 40 years in her TFSA if she expects to earn 7% compounded monthly? Assume that TFSA contribution limits remain at the $6,500 limit until Meghan's retirement
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