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Stacy is converting an RRSP balance of $575,000 into a RRIF. Stacy wants to receive $3,048 at the beginning of each month for 22 years.

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Stacy is converting an RRSP balance of $575,000 into a RRIF. Stacy wants to receive $3,048 at the beginning of each month for 22 years. What nominal annual rate of interest compounded semi-annually is required? Round the answer (1/Y) to 2 decimal places. Choose BGN or END? PV = $ PMT = 5 FV $ P/Y= C/Y = NE 1/Y = 95

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