george retired from his full time job to focus on his partnership with Sarah

Finance Jan 10, 2021

george retired from his full time job to focus on his partnership with Sarah. He received a retirement allowance in the amount of $48700, which he immediately deposited into his rrsp. george plans to leave the rrsp money for 6 years, then transfer the rrsp balance into a rrif and make equal withdrawals at the end of every 6 months for 25 years. if interest is 8.5% compounded semi annually, what will be the size of georges rrsp be after 6 years?