Question
Zachary invested the profit of her business in an investment fund that was earning 3.75% compounded monthly. She began withdrawing $5,000 from this fund every
Zachary invested the profit of her business in an investment fund that was earning 3.75% compounded monthly. She began withdrawing $5,000 from this fund every 6 months, with the first withdrawal in 3 years. If the money in the fund lasted for the next 6 years, how much money did she initially invest in the fund?
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Investments
Authors: Zvi Bodie, Alan J. Marcus, Alex Kane
6th Edition
0072861789, 9780072861785
