Question list

Question $8$

If you save $$100$ at the beginning of every month for seven years, for how long can you withdraw $$260$ at the beginning of each month starting seven years from now, assuming that interest is $6\%$ compounded monthly? State your answer in years and months $($from $0$ to $11$ months$).$

You can withdraw $$260$ for $19$ year$($s$)$ and $4$ month$($s$).$