Jane Evans receives payments of $900 at the beginning of each month from a pension fund of

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Jane Evans receives payments of $900 at the beginning of each month from a pension fund of $72 500. Interest earned by the fund is 6.3% compounded monthly.
(a) What is the number of payments Jane will receive?
(b) What is the size of the final payment?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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