A 25-year annuity was purchased with $225,000 that had accumulated in a Registered Retirement Savings Plan (RRSP).
Question:
a. What amount of principal will be included in Payment 206?
b. What will be the interest portion of Payment 187?
c. How much will Payments 50 to 100 inclusive reduce the principal balance?
d. How much interest will be paid in the fourteenth year?
e. What will be the final payment?
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Given PV 8000 i 52 2 065 n 1225 16 c 2 12 i 2 1 i C 1 1026 1 0042...View the full answer
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QUATERNARY Pursuing M.Tech.(2017-2019) in Electronics and Communication Engg. (VLSI DESIGN) from
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