Fay contributed $3000 per year to her RRSP on every birthday from age 21 to 30 inclusive. She then ceased employment to raise a family and made no further contributions. Her husband Fred contributed $3000 per year to his RRSP on every birthday from age 31 to 64 inclusive. Assuming that both plans earn 8% compounded annually over the years, calculate and compare the amounts in their RRSPs at age 65.

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The Answer of Fay contributed $3000 per year to her RRSP on every birthday from age 21 to 30 inclusive. She then ceased employment to raise a family and made no further contributions. Her husband Fred contributed $3000 per year to his RRSP on every birthday from age 31 to 64 inclusive. Assuming that both plans earn 8% compounded annually over the years, calculate and compare the amounts in their RRSPs at age 65.

Fay Contributed $3000 Per Year to Her RRSP on Every