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Angela is concerned about saving money for the future and taking advantage of TFSA and RRSP accounts.If she was able to save $500 a month for 40 years,and her marginal tax bracket was 36%,how much more would she have in her RRSP,versus her TFSA,versus saving the funds in an unsheltered investment account? Assume the investment choice was the same for each account and grew at an annual rate of 6%.
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Human Capital
The combined abilities, expertise, or other non-physical assets belonging to people that can be leveraged to generate economic worth.
Proprietor's Income
The income earned by the owner of a sole proprietorship, which consists of the profits generated by the business.
Production Factor
An input used in the manufacturing of goods or services, typically categorized into land, labor, and capital.
College
An educational institution or a constituent part of one that offers undergraduate and, in some cases, postgraduate degrees.
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