A deposit of $4000 is made today. For how long can $500 be withdrawn from the account

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A deposit of $4000 is made today. For how long can $500 be withdrawn from the account at the end of every three months starting three months from now if interest is 4% compounded quarterly?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Sep 21, 2024 05:20 AM

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A deposit of $4000 is made today. For how long can $500 be withdrawn from the account

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PV n 400000 PMT 50000 i 10 n In092 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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