An endowment fund is set up with a donation of $110,000. If it earns 4.1% compounded...

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An endowment fund is set up with a donation of $110,000. If it earns 4.1% compounded monthly, for how long will it sustain end-of- month withdrawals of $1,300? (Include the final smaller withdrawal.) (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) Endowment is for year(s) and month(s). An endowment fund is set up with a donation of $110,000. If it earns 4.1% compounded monthly, for how long will it sustain end-of- month withdrawals of $1,300? (Include the final smaller withdrawal.) (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) Endowment is for year(s) and month(s).

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Answer how to find how long the endowment fund will sustain the withdrawals Convert interest rate to ... View the full answer