What beginning-of-month withdrawals can a $400,000 RRIF (Registered Retirement Income Fund) sustain for 20 years if the investments within the RRIF earn:
a. 3% compounded monthly?
b. 4.5% compounded monthly?
c. 6% compounded monthly?
d. 7.5% compounded monthly?
In each case, also calculate the total earnings distributed over the life of the annuity.
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