When Austin retires in 18 years, he wants to receive $250.00 payments at the start of every month for 27 years from his RIF that earns 2.60% compounded semi-annually. What beginning of quarter deposits does Austin have to make into his RRSP that earns 2.10% compounded quarterly for the 18 years until he retires? PMT

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 5E
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When Austin retires in 18 years, he wants to receive $250.00 payments at the start of every month for 27 years from his RIF that earns 2.60% compounded semi-annually. What beginning of quarter deposits does Austin have to make into his RRSP that earns 2.10% compounded quarterly for the 18 years until he retires?
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