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please hurry The total amount of time you must contribute to CPP is called: a. The collection period b. The pension period c. The contributory
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The total amount of time you must contribute to CPP is called: a. The collection period b. The pension period c. The contributory period d. The earnings period What is the first step a student should do when approaching a Time Value of Money calculation. a. Convert the " n " and "I" variables to reflect the appropriate compounding, if required. b. Draw a timeline that includes the dates, time periods, amounts of money and interest rates if they change during the time of the timeline. c. Write the equation with the numbers. d. Write down what is given (i.e. PV, FV, PMT, N, and I/Y) What is the main advantage of the fixed dollar strategy? a. Purchasing power risk is enhanced. b. It is easy to administer, since your retirement income is known, and it is easier to budget. c. It is very flexible. d. Longevity risk is eliminated. When Anne and Francesca, her financial planner, met in 2020, Anne decided she would save $8,000 a year in $2021 for 3 years. Her goal was to earn a real rate of return of 6% before tax. Her rate of return averaged 9%. Francesca had estimated inflation would be 3% for the 3 years but inflation was, in fact, 3.4%. In real dollars how much did Anne have at the end of the 3 years? a. $25,323 b. $26,906 C. $26,695 d. $25,425 Step by Step Solution
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