Problem
A prize fund is set up with a single investment of $5000 to provide an annual prize of $500. The fund is invested to earn interest at a rate of 7% compounded annually. If the first prize is awarded 1 year after the initial investment, find the number of years for which the prize can be awarded before the fund falls below $500.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.