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Ellenor pays month-end payments of $643 into her RRSP for 33 years. The RRSP has an interest rate of 6% compounded quarterly. At the end
Ellenor pays month-end payments of $643 into her RRSP for 33 years. The RRSP has an interest rate of 6% compounded quarterly. At the end of 33 years, she purchases an annuity that will pay her bi-weekly payments (at the end of each bi-weekly period) for 31 years. The interest of the annuity is 4% compounded semi-annually. How much are Ellenor's biweekly payments when she retires?
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