I want to retire in 25 years. I am able to save $1000 at the end of every month. If I invest my money in an account paying 5% compounded quarterly, how much will I have when I retire? 

 

Suppose I want to be able to take out $5000 every month after retirement for 30 years. How much should I have saved in my RRSP at retirement, if the RRSP pays 5% compounded quarterly? 

 

Suppose I want to have $1,000,000 at retirement (25 years from now) in my RRSP. If my RRSP pays 5% compounded quarterly, how much should I save every month? 

What if RRSP pays 7% compounded quarterly? 

What if I have 35 years till retirement? 

 

 

Suppose I have $1,000,000 in my RRSP when I retire. If I take $5000 out at the end of each month, for how long (how many years) can I make withdrawals? Assume RRSP pays 5% compounded quarterly.  

What if I want to take out $3000? Or $7000? 

 

 

Suppose I want to have $1,000,000 at retirement (25 years from now) in my RRSP. If I can save $2000 every month, at what interest rate compounded quarterly should I invest my money? 

Answer rating: 100% (QA)

ANSWER 1 FV PV x 1 rnnt where FV is the future value PV is the present value r is the interest rate n is the number of times the interest is compounded per year and t is the number of years 2How much ... View the full answer