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Lada Lada
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Posts: 357
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6 years ago
Asif received a bonus of $10 000, which he immediately invested in a fund earning 9.25% compounded semi-annually through his Tax Free Savings Account. Five years later, Asif plans to make the first semi-annual withdrawal of $1000. After how many withdrawals, the fund will be completely depleted?
A) 29
B) 28
C) 27
D) 20
E) 10
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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6 years ago
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