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d) Mr. Deneau accumulated $72,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $1300 at the end of every
d) Mr. Deneau accumulated $72,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $1300 at the end of every month from the fund. If interest is 4.25% compounded semi-annually, for how long can Mr. Deneau make withdrawals? State your answer in years and months (from 0 to 11 months). He can make withdrawals for year(s) and month(s). e) What is the nominal annual rate of interest compounded quarterly if a loan of $20,000 is repaid in eight years by payments of $2000 made at the end of every six months? The nominal annual rate of interest is (Round to two decimal places as needed.) % compounded quarterly. f) Tabatha has saved $86,400.00. If she decides to withdraw $3,230.00 at the beginning of every six months and interest is 5.72% compounded monthly, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months). (Type whole numbers.) Her last withdrawal will occur year(s) and month(s) from now
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