Ceases to withdraw funds from the account


Problem:

Your uncle has $300,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $35,000 at the beginning of each year, beginning immediately. He also wants to have $25,000 left to give you he ceases to withdraw funds from the account.

For how many years can he make the $35,000 withdraws and still have $25,000 left in the end?

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Finance Basics: Ceases to withdraw funds from the account
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