Mathematics, 08.04.2021 21:30 fgcherubin

Kathryn plans to build up her RRIF (Registered Retirement Income Fund) by making regular deposits into her RRSP (Registered Retirement Savings Plan) now. When she retires 21 years from now, Kathryn would like to receive $2,450 at the end of every three months for fourteen years. Assume the interest rate for both the RRSP and RRIF will be 7.39% compounded quarterly. 1) How much would Kathryn have to have in the RRIF at the beginning of her retirement to receive these payments of $2,450 each at the end of every three months?

2) What payment will Kathryn have to regularly make now at the end of every three months into her RRSP so that there is enough money in the RRIF at the start of her retirement?

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Kathryn plans to build up her RRIF (Registered Retirement Income Fund) by making regular deposits in...