Beth and Nelson want to accumulate a combined total of $600,000 in their RRSPs by the time
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a. What should be their combined semiannual RRSP contributions?
b. Whatmonthlyamountcantheyexpecttoreceiveiftheyusethe$600,000intheir RRSPs 30 years from now to purchase a 25-year ordinary annuity? Assume that the funds used to purchase the annuity will earn 7.2% compounded monthly.
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a At a focaldate 25 years from now Future value ...View the full answer
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