Now consider your financial objective is to save $500,000 for preparing your retirement, assuming 30 years...

 

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Now consider your financial objective is to save $500,000 for preparing your retirement, assuming 30 years from now. If you invest your RRSP savings in a mutual fund which can realize an average return of 10% per year. To achieve your goal, how much do you need to save at the end of each year over the 30-year period? Now consider your financial objective is to save $500,000 for preparing your retirement, assuming 30 years from now. If you invest your RRSP savings in a mutual fund which can realize an average return of 10% per year. To achieve your goal, how much do you need to save at the end of each year over the 30-year period?

Answer rating: 100% (QA)

To calculate the amount you need to save at the end of each year over the 30year period to achieve y... View the full answer