Posted by **Lucas** on Wednesday, February 27, 2013 at 1:29pm.

Lucas invests R4million into an account earning interest of 6% per annum compounded monthly.He withdraws an allowance of R30000 per month.The first withdrawal is exactly one month after he has deposited the R4million.How many such withdrawals will Lucas be able to make?

## Answer This Question

## Related Questions

- mathematics - Mr Sandler deposits a lump sum into an account now to allow for ...
- maths - robin invests $50 on the first of every month into a superannuation ...
- gscc - robin invests $50 on the first of every month into a superannuation ...
- maths - Mark inherits R1000000 from his late from his late uncle he invests the ...
- Math - Suppose an individual makes an initial investment of $1100 in an account ...
- Math - Suppose an individual makes an initial investment of $2400 in an account ...
- math - Investor A deposits 1,000 into an account that earns an interest rate of ...
- math - Suppose an individual makes an initial investment of $1100 in an account ...
- interest - In a savings account, a principal of $1000 is deposited at 5% per ...
- Lat math question for some days. Can y'all help? - Huan deposited $850 into a ...

More Related Questions