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2. Your aunt has $760,000 invested at 5.5%,and she now wants to retire.She wants to withdraw $45,000 at the beginning of each year, beginning immediately.
2. Your aunt has $760,000 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?
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