How Much Larger Will the Value of an RRSP Be

question 164

Short Answer

How much larger will the value of an RRSP be at the end of 20 years if the contributor makes month-end contributions of $500 instead of year-end contributions of $6,000? In both cases the RRSP earns 4.5% compounded semi-annually.

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Definitions:

Biological Sex

The classification of living beings, generally as male or female, based on their reproductive anatomy and functions.

Gender Labels

Terms that classify or categorize individuals according to their perceived or assigned gender.

Work Outside

Refers to employment or activities that are conducted in open environments, away from traditional office settings.

Parasympathetic Division

One of the two divisions of the autonomic nervous system, often referred to as the "rest and digest" system, that conserves energy and restores the body to a state of calm.