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Lucy won a large sum in the lottery. She invested part of her winnings into a fund earning 6.3% compounded monthly. She has arranged a
Lucy won a large sum in the lottery. She invested part of her winnings into a fund earning 6.3% compounded monthly. She has arranged a systematic withdrawal plan that provides for 96 monthly payments increasing at a constant rate of 0.4% per payment. The first payment of $950 is due one month after she set up the fund. How much interest is included in the payments
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