Noreen's RRSP is currently worth $125,000. She plans to contribute for 10 more years and then let the plan continue to grow through internal earnings for an additional five years. If the RRSP earns 8% compounded annually, how much must she contribute at the end of every six months during the 10-year period to have $500,000 in the RRSP 15 years from now?

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The Answer of Noreen's RRSP is currently worth $125,000. She plans to contribute for 10 more years and then let the plan continue to grow through internal earnings for an additional five years. If the RRSP earns 8% compounded annually, how much must she contribute at the end of every six months during the 10-year period to have $500,000 in the RRSP 15 years from now?

Noreen's RRSP Is Currently Worth $125,000