Question
Debbie has $717,683 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place annually
Debbie has $717,683 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place annually starting today. How soon will the fund be exhausted if Debbie withdraws $70,000 each year?
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Financial Accounting
Authors: Carl Warren, James M. Reeve, Philip E. Fess
8th Edition
0324025394, 978-0324025392
