Mr. O'Connor set up a trust account paying $500 per month in perpetuity to the local hospital. These payments consume all the interest earned monthly by the trust. Between what amounts does the balance in the trust account fluctuate if it earns 6% compounded monthly?

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The Answer of Mr. O'Connor set up a trust account paying $500 per month in perpetuity to the local hospital. These payments consume all the interest earned monthly by the trust. Between what amounts does the balance in the trust account fluctuate if it earns 6% compounded monthly?

Mr O'Connor Set Up a Trust Account Paying $500 Per