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Dean has already implemented the first stage of his financial plan. Over a 3 0 - year period, he will continue to increase his annual
Dean has already implemented the first stage of his financial
plan. Over a year period, he will continue to increase his
annual yearend RRSP contributions by per year. His initial
contribution was $ At the end of the years, he will
transfer the funds to an RRIF and begin endofmonth withdrawals
that will increase at the rate of compounded monthly for
years. Assume that his RRSP will earn compounded annually and
his RRIF will earn compounded monthly. What will be the size of
his initial RRIF withdrawal?
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