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Posted on May 19, 2024

For how long can you withdraw at the beginning of each month $500 from a fund of $100,000 if interest is 5% compounded monthly?

For how long can you withdraw at the beginning of each month $500 from a fund of $100,000 if interest is 5% compounded monthly? Provide an answer in years. (Round your final answer to 2 decimals).

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