Your aunt ruth has 500000 invested at 65 and she plans to


Your aunt Ruth has $500,000 invested at 6.5%, and she plans to retire. She wants to withdraw $40,000 at the beginning of each year, starting immediately. How many years will it take to exhaust her funds?

a. 18.62
b. 19.60
c. 20.63
d. 21.71
e. 22.86

 

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Finance Basics: Your aunt ruth has 500000 invested at 65 and she plans to
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