Question
Thomas invested the profit of his business in an investment fund that was earning 3.50% compounded monthly. He began withdrawing $3,000 from this fund every
Thomas invested the profit of his business in an investment fund that was earning 3.50% compounded monthly. He began withdrawing $3,000 from this fund every 6 months, with the first withdrawal in 3 years. If the money in the fund lasted for the next 5 years, how much money did he initially invest in the fund?
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Handbook Of Financial Cryptography And Security
Authors: Burton Rosenberg, Douglas R. Stinson
1st Edition
1420059815, 978-1420059816
