Money and finance
 

Money and finance problem 40


Mirand decides to invest some of her savings in a bank for possible rainy times. Thus, at the beginning of the calendar year, she invests € 85800 in the bank. She then decides to withdraw € 650 at the end of each year for the entire time of saving. Calculate how much money she will have left after 6 years if the bank pays interest at 11% interest rate at the annual capitalization.


 

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