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Carlyle plans to make month-end contributions of $400 to his RRSP from age 20 to...

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Finance

Carlyle plans to make month-end contributions of $400 to his RRSP from age 20 to age 40. From age 40 to age 65, he plans to make no further contributions to his RRSP. The RRSP can earn 9% compounded annually from age 20 to age 60, and then 5% compounded annually from age 60 to age 65. Under this plan, what is the maturity value of his RRSP when he turns 65?

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