What Is Rpp Contributions On T4 Eric Is A Eric Is A Member Of A Defined Contribution RPP. Each Year He Contributes 8% Of His $70,000 Salary?

Eric is a Eric is a member of a defined contribution RPP. Each year he contributes 8% of his $70,000 salary? - what is rpp contributions on t4

Eric is a member of a defined contribution RPP. Each year, representing 8% of his salary of $ 70,000 for the RPP and your employer is equal to 50% of your contribution. Eric RRSP worth $ 40,000 and currently accounts for 5%. Eric always has the highest deductible RRSP contribution each year in January this year. Under the assumption that all these factors remain unchanged, what the value of your RRSP in 20 years?


a. $ 251,953

b. $ 394,167

c. $ 446,381

d. $ 543,594