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Noreen's RRSP Is Currently Worth $125,000

Question 93

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Noreen's RRSP is currently worth $125,000. For the next 10 years, she will make contributions at the end of every six months. How much does Noreen need to contribute at the end of every six months for the next 10 years to reach her goal of having a total of $500,000 when she retires? Her RRSP earns 8% compounded annually.

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