MBF3C - Algonquin Achievement Centre
n = 65 - 40 = 15 years. Now use the annuity formula: A = A = A ≈ $ 130 591.82 Nick will have about $ 130 591.82 in his RRSP on his 65th birthday. Nick’s scenarios show that contributing smaller amounts for longer periods of time is better in the long run. Example 3: Suppose Lucy retires on her 60th birthday. ................
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