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Please solve genuinely correct answer asap Having earned a bonus at his work, Rick placed the money in an investment earning 4.43% compounded monthly. He
Please solve genuinely correct answer asap
Having earned a bonus at his work, Rick placed the money in an investment earning 4.43% compounded monthly. He withdrew $349 at the end of every month for the next 4 years. (a) What was the amount of the bonus? (b) If he made all of the withdrawals as planned, how much interest was paid? (a) The amount of the bonus is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest paid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Lauren deposited $10,000 today. He plans to withdraw $600 every year. For how long can she withdraw from the account starting 1 year from now if interest is 5.2% compounded annually? State your answer in years and months (from 0 to 11 months). She can make withdrawals for year(s) and month(s)Step by Step Solution
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