Use of Financial Calculator TI BA II Plus Required

question 135

Multiple Choice

Use of Financial Calculator TI BA II Plus required. Miranda is 35 and her tax planning creates opportunities to receive $1800 in tax rebates each year. She uses this rebate to partially fund her RRSP contributions. If she can earn a 7 percent return, how much extra retirement savings will she have at 65?

• A)$157 224
• B)$181 345
• C)$70 035
• D)$170 029

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Definitions:

Reimburse

To reimburse is to pay back or compensate someone for expenses they have incurred.

Incorporation

The process of legally declaring a corporate entity as separate from its owners.

Mandatory Dividend Provisions

Rules or clauses within a company's charter or bylaws that require the company to pay dividends to its shareholders under certain conditions.

Corporate Laws

Regulations and legal principles dealing with the formation, operation, and dissolution of corporations.