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gewusel gewusel
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6 years ago
Mr. Sepaba accumulated $600 000.00 in an RRSP. He converted the RRSP into an RRIF and started to withdraw $3000.00 at the end of every month from the fund. If interest is 4.5% compounded yearly, for how long can Mr. Sepaba make withdrawals?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
= 800 000, PMT = 3000, i = 0.045, c = 
p =   - 1 = 0.0036748094
n =   = 362 months = 30.16 years
wrote...
4 years ago
thanks
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