Question
Josie won $8000 in an essay-writing contest. The money was deposed into a savings account earning 4.2% compounded monthly. She intends to leave the money
Josie won $8000 in an essay-writing contest. The money was deposed into a savings account earning 4.2% compounded monthly. She intends to leave the money for 5 1/2 years, then withdraw amounts at the end of each month for the next four years while she studies to become an entrepreneur. What will be the size of each withdrawal?
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Linear Algebra and Its Applications
Authors: David C. Lay
4th edition
321791541, 978-0321388834, 978-0321791542
