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Ms. Deli intends to make deposits of $1000 at the end of each month for the next 25 years into an RRSP (which pays
Ms. Deli intends to make deposits of $1000 at the end of each month for the next 25 years into an RRSP (which pays interest at 7% compounded monthly). When she retires in 25 years (at the age of 65), she intends to withdraw monthly (end of month) payments for the next 30 years (until she is 95). What is the amount of the monthly withdrawal if the RRSP earns 6% compounded monthly after she retires? 5487.23 3421.13 6578.98 4856.79
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