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Jaspreet invested the profit of his business in an investment fund that was earning 2.50% compounded monthly. In 4 years, he began withdrawing $2,500 from
Jaspreet invested the profit of his business in an investment fund that was earning 2.50% compounded monthly. In 4 years, he began withdrawing $2,500 from this fund at the end of every 6 months. If the money in the fund lasted for the next 7 years, how much money did he initially invest in the fund?
Please include a well-labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions.
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