How soon will the fund be exhausted if jimmy withdraws, Financial Management

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How soon will the fund be exhausted if jimmy withdraws

Jimmy has $255,906 accumulated in a 401K plan. The fund is earning a low, but safe, 3% a year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Jimmy withdraws $30,000 each year?

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Financial Management: How soon will the fund be exhausted if jimmy withdraws

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