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Jeff is retired and has an investment fund worth $210,000 in an RRSP, which earns 9% compounded semi-annually. He plans to withdraw only $2000 at
Jeff is retired and has an investment fund worth $210,000 in an RRSP, which earns 9% compounded semi-annually. He plans to withdraw only $2000 at the end of each month. Compute the missing value (N or PMT).
Select one:
a. N = 203 payment intervals
b. N = 209 payment intervals
c. PMT = $211.87
d. PMT = $1981.98
e. N = 199 payment intervals
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