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Home Q & A Board Science-Related Homework Help Mathematics
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Sammyjoe1105 Sammyjoe1105
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A year ago
Samuel has $290,000 in his Retirement Savings Plan right now. He will not be able to make any more contributions to the RSP but he is planning to let the money accumulate until he has enough so that he can take out $3,000 per month for 25 years. How long will he have to wait until he takes out the first $3,000 withdrawal? His investments earn 7.5% compounded monthly.

▸ 39 months

▸ 55 months

▸ 89 months

▸ 95 months

▸ 112 months
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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sbe0921sbe0921
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A year ago
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Sammyjoe1105 Author
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A year ago
Helped a lot
zbmallo3
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Yesterday
Brilliant ツ
Hellish Lover
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2 hours ago
this is exactly what I needed
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