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Kirk had accumulated $ 9 7 5 0 0 0 in his RRSP at the age of 5 5 . He converted the RRSP into

Kirk had accumulated $

975 000

in his RRSP at the age of

55 .

He converted the RRSP into an RRIF at that time and started withdrawing $

5000

at the beginning of each month. If interest is

4.5 %

compounded monthly, what is the size of his final withdrawal?

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