Question: Having earned a bonus at his work, Rick placed the money in an investment earning 5.36% compounded monthly. He withdrew $400 at the end of

Having earned a bonus at his work, Rick placed the money in an investment earning 5.36% compounded monthly. He withdrew $400 at the end of every month for the next 5 years.

(a) What was the amount of the bonus?

(b) If he made all of the withdrawals as planned, how much interest was paid?

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