An endowment fund is set up with a donation of $100,000. If it earns 3% compounded monthly,
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An endowment fund is set up with a donation of $100,000. If it earns 3% compounded monthly, for how long will it sustain end-of-month withdrawals of $1000? (Include the final, smaller withdrawal.)
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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