Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Brianna invested the profit of his business in an investment fund that was earning
3.75% compounded monthly. In 4 years, he began withdrawing $4,000 from this fund
at the end of every 6 months. If the money in the fund lasted for the next 5 years, how
much money did he initially invest in the fund?
$
Round to the nearest cent
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