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Question 1 (5 points) Melissa is going to start making quarterly contributions into her RRSP in order to purchase a 20-year annuity that will pay
Question 1 (5 points) Melissa is going to start making quarterly contributions into her RRSP in order to purchase a 20-year annuity that will pay her $3,500 at the beginning of each month, starting at age 62. She will make her first contribution on her 35th birthday and will continue making payments up to but not including her 62nd birthday. Assuming a rate of return of 8% compounded quarterly for the entire problem, what should be the amount of each contribution that Melissa makes to her RRSP? Format BI U Y . A Ba, 30 h
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