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    micaga's Avatar
    micaga Posts: 1, Reputation: 1
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    #1

    Sep 11, 2010, 04:30 PM
    Your uncle has 500000 invested at 7.5%, and he now wants to retire.
    Your uncle has 500000 invested at 7.5%, and he now wants to retire. He wants to withdraw 40000 at the beginning of each year, beginning immediately. How many years will it take to exhaust his funds, i.e. run the account down to zero
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Sep 11, 2010, 04:34 PM

    Please review the guidelines on asking for help with homework that can be found here:



    https://www.askmehelpdesk.com/arts-l...board-b-u.html
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