Question: 5. Teddy plans on contributing $6,000 every year (the maximum allowable contribution in 2019) to his TFSA. What is the future value after 20 years


5. Teddy plans on contributing $6,000 every year (the maximum allowable contribution in 2019) to his TFSA. What is the future value after 20 years if the funds earn 4.5% compounded annually? 21. Amir started contributing $5500 to a TFSA at the end of every year beginning in 2017. In 2019, the maximum allowable annual contribution was increased to $6000 and Amir planned to continue to contribute the maximum amount at the end of every year for the next 15 years. How much will he have in his TFSA after 15 years of additional contributions if the maximum allowable annual contribution remains at $6000 and his average rate of return is 8% compounded annually
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