After a discussion with her financial adviser on January 28, 2013, Jennifer has determined that she...
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After a discussion with her financial adviser on January 28, 2013, Jennifer has determined that she needs $2 million in her RRSP when she retires on January 28, 2052. She has decided to start making annual contributions to her RRSP starting January 28, 2014 and grow those contributions by 4.5% every year. If her RRSP can earn 10% compounded annually, in what amount should she make her first contribution? Include all the steps and the final answer. I 12:20 AM After a discussion with her financial adviser on January 28, 2013, Jennifer has determined that she needs $2 million in her RRSP when she retires on January 28, 2052. She has decided to start making annual contributions to her RRSP starting January 28, 2014 and grow those contributions by 4.5% every year. If her RRSP can earn 10% compounded annually, in what amount should she make her first contribution? Include all the steps and the final answer. I 12:20 AM
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Related Book For
Taxation for Decision Makers 2014
ISBN: 9781118654545
6th edition
Authors: Shirley Dennis Escoffier, Karen Fortin
Posted Date:
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