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George retired from his full-time job to focus on his partnership with Sarah. He received a retirement allowance in the amount of $48 700 which
George retired from his full-time job to focus on his partnership with Sarah. He received a retirement allowance in the amount of $48 700 which he immediately deposited into his RRSP. George plans to leave the RRSP money for 6 years, then transfer the RRSP balance into a RRIF and make equal withdrawals at the end of every six months for 25 years. If interest is 8.5% compounded semi annually, what will be the size of George's RRSP be after 6 years?
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