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Home Q & A Board Science-Related Homework Help Mathematics
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DenverMade DenverMade
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5 months ago
A $15,000 deposit earns 6% compounded quarterly. Rounded to the nearest month, how long (before the first withdrawal) must the deposit be allowed to grow before it can provide 24 quarterly withdrawals of $1200?

▸ 7 years

▸ 7 years and 3 months

▸ 7 years and 11 months

▸ 8 years and 3 months

▸ 8 years and 5 months
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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silvermoon197silvermoon197
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5 months ago
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8 years and 3 months
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