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Philippe is excited as he is considered a top performer at his place of employment and will receive a significant company bonus at the end
Philippe is excited as he is considered a top performer at his place of employment and will receive a significant company bonus at the end of the month of $ He is looking to invest this money in his TaxFree Savings Account TFSA He currently has TFSA contribution room of $ and the contribution of his bonus would be the first time that he contributes. In addition, to contributing his company bonus, he is looking to invest $ a month into his TFSA also starting at the end of the month when he gets his pay cheque Philippe expects a rate of compounded monthly and is wondering how much he will have after five years in his TFSA?
Show calculations for Philippe's total TFSA investment: marks
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