Jeff Is Retired and Has an Investment Fund Worth $210

question 31

Multiple Choice

Jeff is retired and has an investment fund worth $210 000 in an RRSP, which earns 9% compounded semi-annually. He plans to withdraw only $2000 at the beginning of each month starting today. When will the fund become depleted?

• A) 16 years and 6 months
• B) 16 years 10 months
• C) 8 years and 9 months
• D) 9 years
• E) 17 years

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International trade involving the transfer of goods and services between countries or areas.

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