Celebrating your 35th birthday, you have accumulated 10,000 in your RRSP account. Your goal is...
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Celebrating your 35th birthday, you have accumulated 10,000 in your RRSP account. Your goal is to reach 1million with equal contribution to your RRSP account every year till you celebrating your 65th birthday. If the interest rate is 2.5% compounded annually and your contribution starts in one year, please find the size of your contributions each year, assuming you make a contribution on your 65th birthday. PV = ____(1)____; t=____(2)____; r=____(3)____; C=____(4)____.
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