What Percentage More Funds Will You Have in Your RRSP

question 26

Short Answer

What percentage more funds will you have in your RRSP 20 years from now by making fixed contributions of $3,000 at the end of every six months for the next 20 years, instead of waiting 10 years and making semi-annual contributions that are twice as large for half as many years? Assume that the RRSP earns 8% compounded semi-annually.

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Definitions:

Trust

The confidence or belief in the reliability, integrity, and abilities of a person or system, often considered foundational for effective relationships and teamwork.

Leadership

The act of guiding or influencing a group towards the achievement of goals.

Service Performance Behaviours

Actions undertaken by employees in customer-oriented service roles that contribute to the delivery and quality of service.

Servant Leadership

is a leadership philosophy that emphasizes the importance of serving others and prioritizing the needs of employees and the community over personal gain or power.