Question
Cathy placed $8000 into a savings account. For how long can $700 be withdrawn from the account at the end of every month starting one
Cathy placed $8000 into a savings account. For how long can $700 be withdrawn from the account at the end of every month starting one month from now if interest is 4.67% compounded monthly?
The $700 can be withdrawn for ____ months.
(Round down to the nearest month.)
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Derivatives Markets
Authors: Robert McDonald
3rd Edition
978-9332536746, 9789332536746
