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A person has donated $ 50,000 to a foundation. At the end of each year, this donation is distributed to the needy from the donation
A person has donated $ 50,000 to a foundation. At the end of each year, this donation is distributed to the needy from the donation fund with an effective annual interest rate of 5%. The first 10 years are distributed as $ 2,000 at the end of each year and $ 3,000 at the end of each year. Payments continue to be made until the fund is reset, but less than $3,000 in the fund last year references Accordingly, how many years have passed before the fund was reset, and how much is the money left in the fund in the last year?
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