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5. Starting one month from now you plan to contribute $900 each month to your RRSP. Your goal is to have $300,000 accumulated in your

5. Starting one month from now you plan to contribute $900 each month to your RRSP. Your goal is to have $300,000 accumulated in your RRSP at the end of 15 years. What effective interest rate must your RRSP earn so you can achieve your goal? [7 marks]

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