Question
Mr. Deneau accumulated $92,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $3900 at the end of every three
Mr. Deneau accumulated $92,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $3900 at the end of every three months from the fund. If interest is 6.45% 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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Banks Of The Future Putting A Puzzle Together Creatively
Authors: Sohella Thuiner
1st Edition
3319075535,3319075543
