By age 65, John Carter had accumulated $120,000 in an RRSP by making yearly contributions over a
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By age 65, John Carter had accumulated $120,000 in an RRSP by making yearly contributions over a period of years. At age 69, he converted the existing balance into an RRIF from which he started to withdraw $2,000 per month. If the first withdrawal was on the date of conversion and interest on the account is 6.5% compounded quarterly, for how many months will John Carter receive annuity payments?
Related Book For
Statistics for the Life Sciences
ISBN: 978-0321989581
5th edition
Authors: Myra Samuels, Jeffrey Witmer, Andrew Schaffner
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