By the time he turns 60, Justin (just turned age 31) wants the amount in his RRSP to have the purchasing power of $250,000 in current dollars. What annual contributions on his 32nd through 60^th birthdays inclusive are required to meet this goal if the RRSP earns 8% compounded annually and the rate of inflation is 2% per year?

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The Answer of By the time he turns 60, Justin (just turned age 31) wants the amount in his RRSP to have the purchasing power of $250,000 in current dollars. What annual contributions on his 32nd through 60^th birthdays inclusive are required to meet this goal if the RRSP earns 8% compounded annually and the rate of inflation is 2% per year?

By the Time He Turns 60, Justin (Just Turned Age