Assume all the wealth calculated in part (a) is invested at t=10 in an account that pays
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Question:
Assume all the wealth calculated in part (a) is invested at t=10 in an account that pays 7% per year. Moreover, assume your client wishes to withdraw $60,912 at the end of each year during his retirement before he ends up with a zero balance. How many years will he be able to make this withdrawal (do not interpolate)?
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