Question
3*) When retired, Dr. Merlot would like to receive $4,100 end of the month payments. She has decided to start contributing $5,000 per end of
3*) When retired, Dr. Merlot would like to receive $4,100 end of the month payments. She has decided to start contributing $5,000 per end of quarter into an RRSP for 20 years to reach this goal. Given rates are assumed to be 5% compounded semi-annually ALWAYS, for how long (in years) will the $4,100 payments at retirement last her? (4 marks)
2a) How much money will Dr Merlot have at retirement (in 20 years) with the $5,000 PMTs.
2b) For how long (in years) can she then make those $4,100 monthly withdrawals?
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Canadian Income Taxation Planning And Decision Making
Authors: Joan Kitunen, William Buckwold
17th Edition 2014-2015 Version
1259094332, 978-1259094330
