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Find What was the amount of the bonus

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Reference no: EM132691884

Having earned a bonus at his work, Rick placed the money in an investment earning 4.28% compounded monthly. He withdrew $380 at the end of every month for the next 3 years.

Question (a) What was the amount of the bonus?

Question (b) If he made all of the withdrawals as planned, how much interest was paid?

Reference no: EM132691884

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