Kadeem deposited $50,000 into an account that compounds interest semiannually at a rate of 1.8%. At the
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Kadeem deposited $50,000 into an account that compounds interest semiannually at a rate of 1.8%. At the end of each 6-month period, the bank withdraws $5,000 from the account. How long will it take until the account has a balance of $0? Round your answer to the nearest tenth of a year.
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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