By the time he turns 60, Justin (just turned age 31) wants the amount in his RRSP to have the purchasing power of $250,000 in current dollars. What annual contributions on his 32 nd through 60 th birthdays inclusive are required to meet this goal if the RRSP earns 4% compounded annually?

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By the time he turns 60, Justin (just turned age 31) wants the amount in his RRSP to have the purchasing power of $250,000 in current dollars. What annual contributions on his 32 nd  through 60 th  birthdays inclusive are required to meet this goal if the RRSP earns 4% compounded annually?

Beebilta yonan · Accepted Answer

Final Answer : $4,270.26

By the time he turns 60, Justin (just turned age 31) wants the amount in his RRSP to have the purchasing power of $250,000 in current dollars. What annual contributions on his 32^nd through 60^th birthdays inclusive are required to meet this goal if the RRSP earns 4% compounded annually?

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By the time he turns 60, Justin (just turned age 31) wants the amount in his RRSP to have the purchasing power of $250,000 in current dollars. What annual contributions on his 32nd through 60th birthdays inclusive are required to meet this goal if the RRSP earns 4% compounded annually?

Definitions

Learning Objectives

Learning Objectives

Related questions

By the time he turns 60, Justin (just turned age 31) wants the amount in his RRSP to have the purchasing power of $250,000 in current dollars. What annual contributions on his 32^nd through 60^th birthdays inclusive are required to meet this goal if the RRSP earns 4% compounded annually?