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Derek is converting an RRSP balance of $575,000.00 into a RRIF. Derek wants to receive $3,422.00 at the beginning of each month for 23 years.

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Derek is converting an RRSP balance of $575,000.00 into a RRIF. Derek wants to receive $3,422.00 at the beginning of each month for 23 years. What nominal annual interest rate compounded semi-annually is required? Round the answer interest rate) to 2 decimal places. Choose BGN or END ? PV = $ PMT = $ = FV = $ P/Y = C/Y = N = 1/Y = = %

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