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In 2011, the maximum amount that you could have contributed to your RRSP (Registered Retirement Savings Plan) was
the lesser of $22,450 or 18% of your earned income from the previous year. How much income do you need to claim a
$22,450 contribution in 2011?

Respuesta :

Using proportions, it is found that you need an income of $124,722.22 to claim a $22,450 contribution in 2011.

What is a proportion?

A proportion is a fraction of a total amount, and the measures are related using a rule of three.

To claim a $22,450 contribution in 2011, this amount has to be 18% of your income, hence:

0.18x = 22450

x = 22450/0.18

x = $124,722.22.

You need an income of $124,722.22 to claim a $22,450 contribution in 2011.

More can be learned about proportions at https://brainly.com/question/24372153

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