Twelve years ago, Mt Lawton rolled a $17,000 retiring allowance into an RRSP that subsequently earned 7%
Question:
Twelve years ago, Mt Lawton rolled a $17,000 retiring allowance into an RRSP that subsequently earned 7% compounded semiannually. Three years ago he transferred the funds to a Registered Retirement Income Fund (RRIF). Since then, he has been withdrawing $1000 at the end of each quarter. If the RRIF earns 4.2% compounded quarterly, how much longer can the withdrawals continue?
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At a focal date 3 years ago Now substitute PV 3157732 PMT 1000 and i 424 105 into formula 102n ...View the full answer
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Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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