If $400,000 accumulated in an RRSP is used to purchase an annuity earning 7.2% compounded monthly and

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If $400,000 accumulated in an RRSP is used to purchase an annuity earning 7.2% compounded monthly and paying $4500 at the end of each month, what will be the term of the annuity?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Sep 21, 2024 08:02 AM

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If $400,000 accumulated in an RRSP is used to purchase an annuity earning 7.2% compounded monthly and paying $4500 at the end of each month, what will be the term of the annuity?
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If $400,000 accumulated in an RRSP is used to purchase an annuity earning 7.2% compounded monthly and

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The purchaseprice of the annuity equals the pre...View the full answer

Business Mathematics In Canada

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