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Amber is converting an RRSP balance of $450,000.00 into a RRIF. Amber wants to receive $3,062.00 at the beginning of each month for 18 years.

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Amber is converting an RRSP balance of $450,000.00 into a RRIF. Amber wants to receive $3,062.00 at the beginning of each month for 18 years. What nominal annual interest rate compounded semi-annually is required? Round the answer (interest rate) to 2 decimal places. Choose BGN or END

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