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Georgina has $171,000 in her retirement account. She will not make any additional contributions, but her account will earn interest at 6% until she retires
Georgina has $171,000 in her retirement account. She will not make any additional contributions, but her account will earn interest at 6% until she retires in three years.
If she begins month-end withdrawals of $5,000 when she retires, how long will her account last?
Express your answer in months to two decimal places. Assume that the account continues to earn J=6% during retirement.
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