Question
Molly invested his savings in a bank at 4.00% compounded monthly. How much money did he invest to enable withdrawals of $2,500 at the beginning
Molly invested his savings in a bank at 4.00% compounded monthly. How much money did he invest to enable withdrawals of $2,500 at the beginning of every 6 months from the investment for 5 years, if the first withdrawal is to be made in 8 years? Ashley set up a fund that would pay his family $3,500 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 3.00% compounded semi-annually?
Ashley set up a fund that would pay his family $3,500 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 3.00% compounded semi-annually?
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