Gloria has just made her ninth annual $2,000 contribution to her Tax-Free Savings Account (TFSA). She now plans to make semi-annual contributions of $2,000. The first contribution will be made six months from now. How much will she have in her TFSA 15 years from now if the plan has earned and will continue to earn 5% compounded quarterly?

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The Answer of Gloria has just made her ninth annual $2,000 contribution to her Tax-Free Savings Account (TFSA). She now plans to make semi-annual contributions of $2,000. The first contribution will be made six months from now. How much will she have in her TFSA 15 years from now if the plan has earned and will continue to earn 5% compounded quarterly?

Gloria Has Just Made Her Ninth Annual $2,000 Contribution to Her