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TFSA Worth ( PLEASE SHOW ALL WORK & FORMULAS) (Only A) 1. Annual contributions of $1000 will be made to a TFSA for 25 years.

TFSA Worth ( PLEASE SHOW ALL WORK & FORMULAS)

(Only A)

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1. Annual contributions of $1000 will be made to a TFSA for 25 years. The contributor expects investments within the plan to earn 7% compounded annually. What will the TFSA be worth after 25 years if the contributions are made: a. At the end of each year? b. At the beginning of each year? c. By what percentage does the answer to part (b) exceed the answer to part (a)

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