Mary set up a fund that would pay her family $3,000 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 3.00% compounded semi-annually? $0.00 Round to the nearest cent

Mary set up a fund that would pay her family $3,000 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 3.00% compounded semi-annually? $0.00 Round to the nearest cent

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 14MCQ

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Question

Mary set up a fund that would pay her family $3,000 at the beginning of every month,
in perpetuity. What was the size of the investment in the fund if it was earning 3.00%
compounded semi-annually?
$0.00
Round to the nearest cent

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