Question: You have $ 1 0 , 0 0 0 in a bank. If you get 4 % compounded monthly and withdraw $ 4 0 0

You have $

10, 000

in a bank. If you get

4 %

compounded monthly and withdraw $

400

at the end of each month, how many withdrawals can you make? What will be the size of the concluding withdrawal if it is made one month after the last full withdrawal?

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