Question
What beginning-of-month withdrawals can a $400,000 RRIF (Registered Retirement Income Fund) sustain for 20 years if the investments within the RRIF earn:(Do not round intermediate
What beginning-of-month withdrawals can a $400,000 RRIF (Registered Retirement Income Fund) sustain for 20 years if the investments within the RRIF earn:(Do not round intermediate calculations and round your final answers to 2 decimal places.)
a.3% compounded monthly?PMT $___b.4.5% compounded monthly?PMT $___c.6% compounded monthly?PMT $___
d.7.5% compounded monthly?PMT $___
Also calculate the total earnings distributed over the life of the annuity in each case.
a.3% compounded monthlyTotal earnings $____b.4.5% compounded monthlyTotal earnings $_____c.6% compounded monthlyTotal earnings $___d.7.5% compounded monthlyTotal earnings $___
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