Seema needs $500 000 at the beginning of her retirement. Seema expects to retire in 25 years and she will earn an average rate of return of 6.5% compounded monthly on her investments. How much must Seema deposit at the end of each month in order to reach her retirement goal?

A $743.99

B. $680.16

C. $687.32

D. $721.51

You have earned income of $56 000 for 2018. You have a defined-contribution plan to which you and your employer each contributed $3500 in 2018. How much of an RRSP contribution can you make in 2019, assuming you had no accumulated RRSP room?

A.

$6,580

B.

$3,500

C.

$3,080

D.

$10,080