Janine plans to save $6,000 a year for the next 6 years to put into her RRSP.
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Question:
Janine plans to save $6,000 a year for the next 6 years to put into her RRSP. She will place the funds at the beginning of every year in a highly diversified mutual fund portfolio which offers a nominal rate of return of 6%. Inflation is expected to be 5% over the next six years. How much will she have in real dollars by the end of six years? O
a. $44,363
b. $42,852
C. $37,219
d. $36,868
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
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