Alex has $200,000 in his RRSP account. He is converting the RRSP to an RRIF and would
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Alex has $200,000 in his RRSP account. He is converting the RRSP to an RRIF and would like to withdraw equal amounts at the beginning of each month for 15 years. If the funds in the RRSP earn 3.8% compounded annually and the RRIF funds earn 4.3% compounded semi-annually, what beginning of the month withdrawals can be sustained for the next 15 years? Assume the whole fund is depleted in 15 years.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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