Question: question: Table C: Old rules: withdraw up to $ 3 5 , 0 0 0 per borrower ( $ 7 0 , 0 0 0
question: Table C: Old rules: withdraw up to $ per borrower $ per couple and years to pay back the amount withdrawn New rules: withdrawal limit increased to $ per borrower $ per couple for withdrawals made after April TABLE E Registered Retirement Savings Plan RRSP: Annual Limits Formula for RRSP contribution limit: of your previous year's earned income less your previous year's pension adjustment to an annual maximum. Year Annual maximum contribution limit $ $ $ using the tables answer the question : a It is April a month after the fire, and Arya and Max have decided to buy a studio condo together for $ on the outskirts of Vancouver, using the Home Buyers Plan HBP for their down payment. They plan to withdraw the maximum amount from their Registered Retirement Savings Plans RRSPs Maxs RRSP currently has a market value of $ and Aryas has a market value of $ Their total RRSP contributions to date are $ for Max and $ for Arya. They are now ready to go to the bank to sign the HBP paperwork and want to know the total amount they can withdraw today from their RRSP accounts to maximize their down payment. Hint: The current HBP withdrawal limit is $ per eligible person $ per couple for withdrawals made after April The previous limit was $ per person $ per couple mark Calculate the total amount they can withdraw from their current RRSP accounts at their bank under the HBP using the current HBP withdrawal limit of up to $ per eligible person $ per couple mark
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