$10,000 was invested in a fund earning 7.5% compounded monthly. How many monthly withdrawals of $300 can be made if the first occurs 3½ years after the date of the initial investment? Count the final smaller withdrawal.

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The Answer of $10,000 was invested in a fund earning 7.5% compounded monthly. How many monthly withdrawals of $300 can be made if the first occurs 3½ years after the date of the initial investment? Count the final smaller withdrawal.

$10,000 Was Invested in a Fund Earning 7