Jeffrey invested the profit of his business in an investment fund that was earning 3.50% compounded monthly. In 3 years, he began withdrawing $5,000 from this fund every 6 months. If the money in the...

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Extracted text: Jeffrey invested the profit of his business in an investment fund that was earning 3.50% compounded monthly. In 3 years, he began withdrawing $5,000 from this fund every 6 months. If the money in the fund lasted for the next 7 years, how much money did he initially invest in the fund? Rour %24