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Jimmy has $518,147 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place at
Jimmy has $518,147 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Jimmy withdraws $56,000 each year?
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