What is the size of the monthly payment
Problem
Harlan made equal payments at the end of each month into his RRSP. If interest in his account is 5.4% compounded quarterly, and the balance after six years is $17,000, what is the size of the monthly payment?
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If interest in his account is 5.4% compounded quarterly, and the balance after six years is $17,000, what is the size of the monthly payment?
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