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5) Mrs. Chan is saving for her retirement by depositing $500 at the end of every quarterly (3 months) into her RRSP. She expects to

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5) Mrs. Chan is saving for her retirement by depositing $500 at the end of every quarterly (3 months) into her RRSP. She expects to retire in 17 years from today and immediately start withdrawing monthly amounts that are to last her 181/2 years. If interest rates are forecast to be 5.65% compounded annually, what are the size of the withdrawals she can make during her retirement? (4 marks)

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