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You were released from your current job and received a settlement of $ 5 4 , 0 0 0 . The Canada Revenue Agency allows

You were released from your current job and received a settlement of $54,000. The Canada Revenue Agency allows you to place the settlement in an RRSP. Fifteen years from now, you intends to transfer the money from the RRSP to a Registered Retirement Income Fund (RRIF). Thereafter, you will make equal withdrawals at the end of each quarter for fifteen years. If both the RRSP and the RRIF earn 6% compounded quarterly, what will be the amount of each withdrawal?$3,380.25 $3,320.25 $3,150.25$3,550.25 $3,350.25

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