Two years from now you will have $30,000. When you receive it, you will invest it for six more years at 7.1% p.a. How much you will have in 8 years?

You have just made your first $5,000 contribution to your RRSP. Assuming you earn an 11% rate of return and make no additional contributions, what will your account be worth when you retire in 45 years? What if you wait 10 years before contributing? Does this suggest an investment strategy? Why or why not, justify your answer