Leona Contributed $3,000 Per Year to Her RRSP on Every

question 11

Short Answer

Leona contributed $3,000 per year to her RRSP on every birthday from age 21 to age 30 inclusive. She stopped employment to raise a family and made no further contributions. Her husband, John, started to make annual contributions of $3,000 to his RRSP on his 31^st birthday and plans to continue up to and including his 65^th birthday. Assuming that both of their plans earn 8% compounded annually over the years, calculate and compare the amounts in their RRSPs at age 65.

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Idea Generation

The process of creating, developing, and communicating new concepts or solutions.

Project Management Skills

Essential abilities required to successfully plan, execute, monitor, control, and close projects, including time management, communication, leadership, and risk management.

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