Your aunt has $680,000 invested at 5.5%, and she now wants to retire. She wants...
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Accounting
Your aunt has $680,000 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?
a
23.40
b.
29.40
c.
24.90
d.
36.61
e.
30.00
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