$30,000 is placed in a fund earning 7% compounded quarterly. How many quarterly withdrawals of $2,000 can be made if the first withdrawal occurs three years from today? Count the final withdrawal, which will be less than $2,000.

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The Answer of $30,000 is placed in a fund earning 7% compounded quarterly. How many quarterly withdrawals of $2,000 can be made if the first withdrawal occurs three years from today? Count the final withdrawal, which will be less than $2,000.

$30,000 Is Placed in a Fund Earning 7% Compounded Quarterly