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We will make annual RRSP contributions at the end of every year for 35 years and each contribution is going to be 8% larger than
We will make annual RRSP contributions at the end of every year for 35 years and each contribution is going to be 8% larger than the previous one. Our goal is to have $2,000,000 in 35 years. The RRSP will earn 13% compounded annually. How large will the first contribution be? Select one: a. $1,746 b. $1,048 c. $1,483 d. $3,742 e. $2,295
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