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Shane invested $14,000 into a fund earning 6.50% compounded monthly. He plans to withdraw $850 from...

Shane invested $14,000 into a fund earning 6.50% compounded monthly. He plans to withdraw $850 from the fund at the end of every quarter. If the first annuity withdrawal is to be made 4 years from now, how long will it take for the fund to be depleted?

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Hence, fund will deplete for 8.50 years (26 quarters/4)

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