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What was the amount of the bonus

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Question - Having earned a bonus at his work, Rick placed the money in an investment earning 6.76% compounded monthly. He withdrew $285 at the end of every month for the next 6 years.

(a) What was the amount of the bonus?

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

Reference no: EM133148668

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