Marika wants to have $500,000 in her RRSP account in 40 years. Money currently earns 4.25% compounded annually, and Marika plans to make contributions to her RRSP account at the end of each year increased each time by 3% to adjust for inflation. What will be Marika's initial contribution?

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The Answer of Marika wants to have $500,000 in her RRSP account in 40 years. Money currently earns 4.25% compounded annually, and Marika plans to make contributions to her RRSP account at the end of each year increased each time by 3% to adjust for inflation. What will be Marika's initial contribution?

Marika Wants to Have $500,000 in Her RRSP Account in 40