Mr. Deneau accumulated $95,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $5400 at the end of every three months from the fund. If interest is 4.75% compounded semi-annually, 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).
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- Mr. Deneau accumulated $98000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $5400 at the end of every three months from the fund. If interest is 4.1% compounded annually, for how long can Mr. Deneau make withdrawals? State your answer in years and months (from 0 to 11 months).Mr. Deneau accumulated $97,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw $1500 at the end of every month from the fund. If interest is 3.95% compounded quarterly, 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).Mr. Canlapan deposited his money from selling his old vehicle. The fund would allow him to withdraw 45,000 pesos semi-annually for 5 years starting at the end of 1 year. How much is the amount deposited if the interest rate is 2% converted semi-annually?
- Diego made end of quarter deposits of $1,650 into a retirement fund at 6.50% compounded monthly for 15 years. After 15 years, the balance in the fund was converted into a retirement income fund from which Diego withdrew $10,000 at the end of every three months at 5.55% compounded semi- annually. How long can Diego make withdrawals from the retirement income fund? (Give your answer in terms of years and months. For example 8 years and 4 months.)jenna mcintosh made end of month deposits of $895 into a retirement fund at 7.50% compounded monthly for 15 years. after 15 years the balance in the fund was converted into a retirement income fund from which jenna withdrew 6225 at the end of every three months at 6.75% compounded semi annually. how long can jenna make withdrawls from the retirement income fund? What is the accumulated value in jenna's retirement fund after 15 years?Tara wishes to accumulate $29,000 in 5 years. Use the appropriate formula to find the sinking fund payment (in $) she would need to make at the end of each six months, at 4% interest compounded semiannually. (Round your answer to the nearest cent.)
- Ted Houser wishes to accumulate a fund of $40,000 for the purchase of a house and lot. He plans to deposit $4,000 semiannually at the end of each 6 months. Assuming interest at 14% a year compounded semiannually, how many deposits of $4,000 each will be required, and what is the amount of the last deposit?Kirk had accumulated $975,000 in his RRSP at the age of 55. Converted the RRSP into an RRIF at the time and started withdrawing $5,000 at the beginning of each month. If interest is 4.5% compounded monthly, what is the size of his final withdrawal?Bill makes deposits of 2,700 at the end of each year for n years into a fund. At time n, he uses the accumulated value of the fund to purchase an annuity immediate that makes payments of 197,909.20 at the end of each year for 5 years. The annual effective interest rate is 15%. Calculate n. O a. 26 O b. 29 O c. 28 O d. 24 O e. 22
- Ling has saved $73,000.00. If she decides to withdraw $2,828.00 at the beginning of every year and interest is 3.65% compounded semi-annually, for how long can she make withdrawals? Express your answer in years and months (from 0 to 11 months).Mr.Myers has contributed $137.00 at the end of each month into an savings fund paying 5% per annum COMPOUNDED QUARTELY i) How much will Mr.Myers have in the fund after 20 years? ii) How much of the above is interest?Jessica made equal deposits at the beginning of every 3 months into an RRSP. At the end of 8 years, the fund had an accumulated value of $50,000. If the RRSP was earning 3.50% compounded monthly, what was the size of the quarterly deposits?