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August 1, 2014

Homework Help: Finance

Posted by granann on Monday, November 4, 2013 at 12:47am.

My uncle Samuel has $450,000 invested at 6.5%, and he plans to retire. He wants to withdraw $40,000 at the beginning of each year, starting immediately. How many years will it take to exhaust her funds, run the account down to zero?

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