Homework answers / question archive / To save up for retirement, David makes monthly deposits for the next 15 years into an RRSP

To save up for retirement, David makes monthly deposits for the next 15 years into an RRSP

Math

Share With

To save up for retirement, David makes monthly deposits for the next 15 years into an RRSP. At the end of the 15 years, David will retire and convert the RRSP into a RRIF. David will receive quarterly payments of $2,000 from his RRIF for 20 years. What are the monthly deposits that David must make into the RRSP if the interest rate . V for both the RRSP and the RRIF is 3.9% compounded semi-annually? Input your answer