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A construction company has a bank account fund with a net value of $2,500,000. The company plans to withdrawal rate is $165,000 per year starting
A construction company has a bank account fund with a net value of $2,500,000. The company plans to withdrawal rate is $165,000 per year starting 1 year from now. How many years will it take to completely deplete the fund if the conservatively managed fund grows at a rate of 4.5 % per year? a. Draw the cash flow diagram from the bank's perspective [4 pts] b. Calculate the number of years to deplete the funds. [6 pts]
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