In what period of time could you pay back a loan of $3800 by making quarterly payments of $300 if interest is 9.9% compounded semi-annually? State your answer in years and months (from 0 to 11 months). It would take year(s) and month(s) to pay back the loan Mr Deneau accumulated $118,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $1700 at the end of every month from the fund if interest is 3.6% compounded quarterly, for how long can Mr. Deneau make withdrawals? State your answer in years and months (from 0 to 11 months). He can make withdrawals for year(s) and month(s)