Mr. Deneau accumulated $100 000 in an RRSP. He converted the RRSP into a RRIF and started

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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 interest is 6.75% compounded monthly, for how long can Mr. Deneau make withdrawals?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:00 AM

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Mr. Deneau accumulated $100 000 in an RRSP. He converted the RRSP into a RRIF and started

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PV 100 00000 PMT 450000 i 05625 c 124 3 p 1005625 2 1 101...View the full answer

Contemporary Business Mathematics with Canadian Applications

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