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Having earned a bonus at hiswork, Rick placed the money in an investment earning 6.08 % compounded monthly. He withdrew $ 211 at the end
Having earned a bonus at hiswork, Rick placed the money in an investment earning 6.08 % compounded monthly. He withdrew $211 at the end of every month for the next 3 years.
(a) What was the amount of thebonus?
(b) If he made all of the withdrawals asplanned, how much interest waspaid?
round to the nearest cents
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