Mr. Deneau accumulated $101,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $5100 at the end of every three
Mr. Deneau accumulated $101,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $5100 at the end of every three months from the fund. If interest is 4.85% compounded monthly, for how long can Mr. Deneau make withdrawals? State your answer in years and months (from 0 to 11 months).
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Authors: Robert D. Edwards, John Magee
6th Edition
1599180219, 978-0139043437
