Dr. Theresa Tam has just started investing in a Tax-Free Savings Account. She has $5,000 that she will invest immediately and plans to invest another $4,000 at the end of every year for the next 25 years. She expects to earn a nominal annual rate of return of 6% per year. How much money should Dr. Tam have in her TFSA account, in nominal dollars, after 25 years?

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To calculate the total amount of money Dr Theresa Tam will have in her TaxFree Savings Account TFSA ... View the full answer