Question: Please provide the full solution Carl has $80,000 in his RRSP and 20 years until he plans to retire. How much does Carl need to

Please provide the full solution

Carl has $80,000 in his RRSP and 20 years until he plans to retire. How much does Carl need to save each month to accumulate 700,000 in his RRSP by his planned retirement Assume he will be able to get a 1.6 % annual real rate of return on his investments. Input your answer to the nearest dollar.

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