Tony saved enough money to place $125,500 in an investment generating 9.25% compounded monthly.
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Question

Tony saved enough money to place $125,500 in an investment generating 9.25% compounded

monthly. He wants to

collect a monthly income of $1,350, at the beginning of each month, for as long as the money lasts. How many months will Tony have this income coming to him?

Select one:

a. 165.

b. 145.

c. 192.

d. 162.

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