(Answered) Your aunt has 350000 invested at 55 and she now wants to

Management Studies

Your aunt has $350,000 invested at 5.5%, and she now wants to retire. She wants to withdraw $45,000 at the beginning of each year, beginning immediately. She also wants to have $50,000 left to give you when she ceases to withdraw funds from the account. For how many years can she make the $45,000 withdrawals and still have $50,000 left in the end?

9.47
8.60
13.35
11.41
12.38

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