Question
Nicole has just turned 41 and has accumulated $24 500 in her RRSP. She makes month-end contributions of $400 to the plan and intends to
Nicole has just turned 41 and has accumulated $24 500 in her RRSP. She makes month-end contributions of $400 to the plan and intends to do so until she retires at the age of 60. The RRSP will be allowed to continue to accumulate until she reaches the age of 65. If the RRSP earns 6% compounded monthly for the next 24 years, how much will her RRSP contain when she turns 65?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk
11th Edition
0324422865, 978-0324422863
