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30-04-2024
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Mr. Deneau accumulated $110,000 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 6.8% compounded monthly, for how long can Mr. Deneau make withdrawals? State your answer in years and months (from 0 to 11 months).
He can make withdrawals for year(s) and month(s).

Answer :

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