Problem
Denise can contribute up to 6% of her base salary to a company- sponsored registered retirement savings plan (Group RRSP), where her employer will match her contributions at a rate of 50%. Her base earnings for the year are $48,000 and her yearly bonus is $2,400. If Denise contributes the maximum allowed to her Group RRSP plan, what amount will represent total RRSP contributions on her T4 slip the following year?