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A 2 5 - year annuity was purchased with $ 2 2 5 , 0 0 0 that had accumulated in an RRSP . The
A year annuity was purchased with $ that had accumulated in an RRSP The annuity provides a semiannually compounded rate of and makes equal month end payment.
a What amount of principal will be included in Payment
b What will be the interest portion of payment
c How much will payments to inclusive reduce the principal balance?
d How much interest will be paid in the year?
e What will be the final payment?
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