A child receives ($100),000 as a gift, which is deposited in a bank account earning 6 percent
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A child receives \($100\),000 as a gift, which is deposited in a bank account earning 6 percent compounded semiannually. If \($5\),000 is withdrawn at the end of each half year, how long will the money last?
a. 21 years
b. 15.5 years
c. 25 years
d. 18 years
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Related Book For
Principles Of Engineering Economic Analysis
ISBN: 9781118163832
6th Edition
Authors: John A. White, Kenneth E. Case, David B. Pratt
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