Janine plans to save $6,000 a year for the next 6 years to put into her RRSP.

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Question:

Janine plans to save $6,000 a year for the next 6 years to put into her RRSP. She will place the funds at the beginning of every year in a highly diversified mutual fund portfolio which offers a nominal rate of return of 6%. Inflation is expected to be 5% over the next six years. How much will she have in real dollars by the end of six years? O

a. $44,363

b. $42,852

C. $37,219

d. $36,868

Janice's salary is $62,000. The CPP contribution rate currently is 5.95% and the
YMPE is $66,600. What is her annual CPP contribution?

a. $3,480.75

b.$3,689.00

c. $3,962.70

d. $3,754.45

Joan is a member of a non-contributory DCPP where the contribution rate is 7%. Her salary is $55,000. Her company also has a DPSP. In 2021, her company contributed $3,850 to the DCPP on her behalf and $1, 100 to the out of DPSP. In 2022 she can contribute how much to her RRSP? O

a. $13,050

b. $1,100

c. $4,950

d. $9,200