Randall Wants to Accumulate $750,000 in His RRSP by the End

question 97

Short Answer

Randall wants to accumulate $750,000 in his RRSP by the end of his 30-year working career. What should be his initial year-end contribution if he intends to increase the contribution by 3% every year and the RRSP earns 5.25% compounded annually?

---

Definitions:

Soft Skill

Personal attributes that enable individuals to interact effectively and harmoniously with other people.

Medical Records

Documented information pertaining to a patient's medical history, treatments, and health conditions, maintained for the purpose of guiding future care.

Dependable

Capable of being trusted or relied upon; showing reliability, consistency, and steadfastness in various circumstances.

Professional Behavior

Conduct or actions that are deemed appropriate and ethical in a professional setting.