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Fourteen years ago, Mr . Lawton rolled a $ 3 5 , 0 0 0 retiring allowance into an RRSP that subsequently earned 1 1

Fourteen years ago, Mr. Lawton rolled a $35,000 retiring
allowance into an RRSP that subsequently earned 11.8% compounded
semiannually. Five years ago he transferred the funds to an RRIF.
Since then, he has been withdrawing $2800 at the end of each
quarter. If the RRIF earns 9.8% compounded quarterly, how much
longer can the withdrawals continue? (Do not round intermediate
calculations and round up the number of payments, n, to the next
whole number.)_________ years and ________ months.

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