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2 7 . Mrs White contributed $ 2 0 0 0 to an RRSP account at the beginning of each half of year for the

27. Mrs White contributed $2000 to an RRSP account at the beginning of each
half of year for the past 15 years. The plan earned 5.8% compounded annually
for the first 10 years and 6% compounded semi-annually for the last 5 years.
She decided to convert her RRSP to a Registered Retirement Income Fund
(RRIF) and intend to withdraw equal amounts at the beginning of each month for
20 years. What monthly amount can be withdrawn by Mrs White if the RRIF
earns 5.5% compounded monthly?

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