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how much have accumulated in her RRSP for her retirement

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Reference no: EM132872625

Problem - Yasmine took a great course in Personal Finance at Concordia where she learned about the Pay Yourself First Method. She has decided to apply this as of her first pay where she landed a fantastic job at Telus. She is paid on the 1st of each month. Upon receipt of her pay, she immediately contributes $600 to her Registered Retirement Savings Plan (RRSP). Yasmine is 23 years old and if she continues to contribute to her RRSP until she is 65 years old, how much will she have accumulated in her RRSP for her retirement? She guesses that she could earn 6% interest compounded weekly over this period of time and has sufficient RRSP contribution room to make the RRSP contributions each year.

Reference no: EM132872625

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