Bill and Linda are both 21 years old today. Both want to retire at
Fantastic news! We've Found the answer you've been seeking!
Question:
Bill and Linda are both 21 years old today.
· Both want to retire at age 65.
· Bill contributes $2,000 per year (at the end of each year) for 6 years to his RRSP.
· Linda waits 6 years then contributes $2,000 per year (at the end of each year) for 38 years to her RRSP.
Assuming they can earn an interest rate of 12% compounded annually, how much will each have at age 65?
Related Book For
Contemporary Financial Management
ISBN: 9780324289114
10th Edition
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
Posted Date: