"Ron and Janice Mawson are now both 55 years old but Ron was disabled for eight years which resulted in excess medical costs so they had to refinance the house. The current mortgage is $150,000 and the house has a market value of $800,000. They also have two children aged 12 and 14 and they continue to work in their current positions.

They currently have no liabilities other than the mortgage and they continue to invest in their RRSPs on a monthly basis. Ron has grown his RRSP to $300,000 and Janice has $350,000 in her RRSP. They each contribute $800 per month to these plans and will continue to do so until their planned retirement at age 65. These registered plans are currently invested 30% income and 70% equity."

And these are the questions:

Assuming 6% annual compound growth, what will the value of Ron and Janice's RRSPs be at age 65? Show these amounts separately for both Ron and Janice. (4 Marks)

If they leave their asset allocation the same and continue to earn 6% per year what income could they each pay themselves from these plans at age 65 without encroaching on capital? Assume a 5% withdrawal rate. (4 Marks)

If they convert their RRSPs to a RRIF what is the minimum payment required based on their age 65? What is the minimum if they wait to withdraw the funds at age 72? (2 Marks)

I've answered the first question:

1.With RRSPs accounts containing $300,000.00 and $350,000 respectively, at 55 years of age, plus their monthly investment of $800.00 each, at 6% compounded annually, Ron and Janice's investments will be worth $667,233.06 and $756,775.45 after 10 years (at age 65). Ron will have total interest earned of $271,233.06 and Janice, $310,775.45.

received it Clear my choice Question 9 Toyota, a Japanese firm, produces a $25,000 car in its plant located in South Carolina, U.S. How does is factor into GDP? Not yet Irawend Select one Points out of O a. $25,000 is added to Japan's GDP I Rag quilton O b. Nothing is added to either country's GOP O c. $25,000 is added to both U.S GDP and Japan's GDP O d. $25 000 is added to U.S. GDP Quantien 10 The supply and demand model shows us that Not you Select one: Points out of 1.00 O a if there is a surplus in a market, buyers will change their preferences and decrease their demand until the surplus is gone. F Rag question O b. once a market reaches equilibrium, the market price will stay the same, even if supply and demand change in the future. O c profit seeking firms will push the price so high that eventually nobody will buy the good and the market will dissolve O d. if there is a shortage in a market, competition will make the price rise and the shortage will be eliminatedFirewood received by a music teacher In return for violin lessons would not be included in GDP O True O False D Question 21 1 pts The label "frictional unemployment" is used to describe individuals who are out of work while they are changing jobs. True False D Question 22 1 pts Net foreign factor income - +25 means that US resources earned more (25) in other countries than others (foreigners) earned in the US. True OFabe D Question 23 1 pts Natural Rate of Unemployment usually means zero unemployment, i.e. no frictional, structural or cyclical unemployment. TrueQuestion 41 1 pts Assume that there are decreasing returns to capital, decreasing returns to labor, and constant returns to scale. Now suppose that both capital and labor decrease by 3%. Then o output will not change. output will decrease by more than 3%. o output will decrease by less than 3%. output will decrease by 3%. Question 42 1 pts In the growth model in chapter 11 without technological progress or population growth, suppose that Kt+1/N