Miranda is 35 and her tax planning creates opportunities to receive a $1800 tax refund each year.If she allocates this to her RRSP each year and earns a 7 percent annual return,how much extra retirement savings will she have at age 65? If she allocated this $1800 each year to a regular investment account which also earned a 7 percent annual return,how much money would she have there? Explain the tax implications and assumptions you need to make for this comparison.

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The Answer of Miranda is 35 and her tax planning creates opportunities to receive a $1800 tax refund each year.If she allocates this to her RRSP each year and earns a 7 percent annual return,how much extra retirement savings will she have at age 65? If she allocated this $1800 each year to a regular investment account which also earned a 7 percent annual return,how much money would she have there? Explain the tax implications and assumptions you need to make for this comparison.

Miranda Is 35 and Her Tax Planning Creates Opportunities to Receive