Your aunt edna has 500000 of her savings invested at 65 --, Ask an Expert

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Your Aunt Edna has $500,000 of her savings invested at 6.5% -- and she now 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 (i.e., run the account down to zero)? [Type in your answer. Please round to the highest year]

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92781517

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