Question: Please answer this correctly :( Thank you! Robert and his spouse, have saved so far $100,000 in their saving account, but after enrolling in MNGT
Robert and his spouse, have saved so far $100,000 in their saving account, but after enrolling in MNGT 200 they learned it was a waste of money to keep it there, so, they decided to start investing in TFSA, If every year contribution limit for each person is: 2023-2024:$6,50020252031:$7,0002032-2035:$8,0002036-2038:$8,5002039-2040:$9,0002041-2043:$9,5002044-2046:$10,0002047-2048:$10,5002049-2050:$11,0002051-2052:$11,500 If Annual return is 15% every single year on the TFSA investment account, - > in what year will this couple reach the $1,000,000, if they started on January 1 , 2023 , and decided to start with the $100,000 and both every year will contribute their maximum allowable contribution limit set by the Gov of CAN, refer to the table above. upload an excel to your calculation, or a word document with the steps taken to calculate it
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