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Grandma Jones Has $300,000 in a Bank Account, Which Pays

Question 76

Multiple Choice

Grandma Jones has $300,000 in a bank account, which pays her interest at 3%. What is the largest amount of money that she could take out now and still leave enough in the account so that she can earn $600 per month in interest?


A) $60,000
B) $100,000
C) $280,000
D) $240,000
E) $9,000

Correct Answer:

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