Questions & AnswersFinance

George: (currently 41 years old, birthday is June 23rd): graduated...

Question
Answered step-by-step
Asked by khalilroundtree on coursehero.com

George: (currently 41 years old, birthday is June 23rd): graduated...

George: (currently 41 years old, birthday is June 23rd):

  • graduated in April 2000 and met Kevin's mother at their graduation ceremony, they married a year later; and
  • started his own business upon graduation and always paid himself a salary of $300,000 each year for the last 22 years.

George is thinking that his TFSA investments are too conservative and wants to invest in XYZ Inc. as their stock is up 40%! If George invests all his TFSA money in XYZ Inc. and it continues to climb to the crazy predictions that his investment advisor says, then George expects his TFSA could have a market value of $400,000! This would pay for the cottage he has been looking at. If George indeed makes $400,000 by November 2022 and immediately withdraws the amount, how much could he then re-contribute to his TFSA in 2022? 2023?

 

2022:______

2023:______

Answer & Explanation

Solved by verified expert
Answered by sanjhiv.ramachandran on coursehero.com

sectetur adipiscing elit. Nam lacinia pulvina

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, c
CliffsNotes Logo

Unlock access to this and over
10,000 step-by-step explanations

Unlock Explanation

Have an account? Log In

<p>sectetur adipiscing elit. Nam lacinia pulvina</p>sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, c

Step-by-step explanation

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet.

 

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing eli

 

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac,

 

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibussectetur adipiscing elit. Nam lacinia pulvinasectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvi

 

 

sectetur adipiscing elit. Nam lacin

sectetur adipiscing elit. Nam lacinia pulvinar tortor nec fac

Get unstuck with a CliffsNotes subscription

Example CliffsNotes Question and Answer
Unlock every step-by-step explanation, download literature note PDFs, plus more.Get Access

Related Q&A