Question
if $410,000 accumulated in an RRSP is used to purchase an annuity earning 7.2% compounded monthly and paying $4,500 at the end of each month,
if $410,000 accumulated in an RRSP is used to purchase an annuity earning 7.2% compounded monthly and paying $4,500 at the end of each month, what will be the term of the annuity? (Do not round intermediate calculations and round up the final answer to the nearest month.) It will be ___ months
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Financial And Managerial Accounting For MBAs
Authors: Peter D. Easton
6th Edition
9781618533593
