Kelly just turned age 28 and opened a TFSA account. For her birthday, her grandparents contributed $10,000 to the account. Kelly plans to contribute $500 on the first of each month to the account, and retire at age 60. What rate of return, compounded annually, would kelly have to earn in order to retire with $1 million in her TFSA upon retirement? Round your answer to 2 decimal places

Answer rating: 100% (QA)

To solve this problem we need to use the future value formula for a series of periodic payments annu... View the full answer