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An endowment fund is set up with a donation of $100,000. If it earns 6.2% compounded monthly, for how long will it sustain end-of-
An endowment fund is set up with a donation of $100,000. If it earns 6.2% compounded monthly, for how long will it sustain end-of- month withdrawals of $1,080? (Include the final smaller withdrawal.) (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) Endowment is for year(s) and month(s).
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