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Mathematics 12 Online
OpenStudy (anonymous):

Liam just won $1 000 000 in a lottery! He set aside $100 000 for immediate spending money. The remaining amount was invested in an account that earned 6% per annum, compounded monthly. Liam made regular withdrawls of $10 000 per month from this account. Determine the # of years that Liam would be able to withdraw this monthly income.

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