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Section 12. , 10. Need answers with step by step work. Require formula please (NO EXCEL). Mr. Deneau accumulated $100 000 in an RRSP. He

Section 12. , 10.

Need answers with step by step work. Require formula please (NO EXCEL).

Mr. Deneau accumulated $100 000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $4500 at the end of every three months from the fund. If inter- est is 6.75% compounded monthly, for how long can Mr. Deneau make withdrawals?

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