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First 30 Years PV 0 Next 25 Years PV 11.049 FV 98 0250.94 FV 0 Periods Rate 30 7.6% years Periods 25 Payment PMT/yr CMP/yr ५१००० । 1$750 Rate Payment PMT/yr CMP/yr 7:6.1871 46.98 85 110

First 30 Years PV 0 Next 25 Years PV 11.049 FV 98 0250.94 FV 0 Periods Rate 30 7.6% years Periods 25 Payment PMT/yr CMP/yr ५१००० । 1$750 Rate Payment PMT/yr CMP/yr 7:6.1871 46.98 85 110

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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13. Carol set up an RRSP for a client when the client was 30 years old. The client put $750 into the account every month until they retired at age 60. The account averaged an annual rate of 7.6% per year compounded annually. The client then wants to take a monthly disbursement from the account starting at age 60 for the next 25 years. What would the monthly disbursement be if the RRSP investment retained the same terms and after 25 years would have a zero balance? Complete the tables and circle the value that was calculated for each table. First 30 Years PV 0 Next 25 Years PV 11.049 FV (98 0 2.50.98) FV 0 Periods Rate Payment 7.61 30 years Rate PMT/yr CMP/yr 1 $750 9000 Periods Payment PMT/yr CMP/yr 25 7.6.1871 46.98 485 170 1
Transcribed Image Text:13. Carol set up an RRSP for a client when the client was 30 years old. The client put $750 into the account every month until they retired at age 60. The account averaged an annual rate of 7.6% per year compounded annually. The client then wants to take a monthly disbursement from the account starting at age 60 for the next 25 years. What would the monthly disbursement be if the RRSP investment retained the same terms and after 25 years would have a zero balance? Complete the tables and circle the value that was calculated for each table. First 30 Years PV 0 Next 25 Years PV 11.049 FV (98 0 2.50.98) FV 0 Periods Rate Payment 7.61 30 years Rate PMT/yr CMP/yr 1 $750 9000 Periods Payment PMT/yr CMP/yr 25 7.6.1871 46.98 485 170 1
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