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Question 7 Naomi is converting an RRSP balance of $425,000 into a RRIF. Naomi wants to receive $2,114 at the beginning of each month for

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Question 7 Naomi is converting an RRSP balance of $425,000 into a RRIF. Naomi wants to receive $2,114 at the beginning of each month for 24 years. What nominal annual rate of interest compounded semi-annually is required? Round the answer (l/Y) to 2 decimal places. Choose BGN or END ? PV = $ PMT = $ FV = $ P/Y = C/Y = N = I/Y = = %

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