Question
Dylan invested the profit of her business in an investment fund that was earning 2.25% compounded monthly. She began withdrawing $3,000 from this fund every
Dylan invested the profit of her business in an investment fund that was earning 2.25% compounded monthly. She began withdrawing $3,000 from this fund every 6 months, with the first withdrawal in 5 years. If the money in the fund lasted for the next 6 years, how much money did she initially invest in the fund?
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
