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our uncle has $260,000 invested at 8.4%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting
our uncle has $260,000 invested at 8.4%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting at the end of this year. He also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. For how many years can he make the $35,000 withdrawals and still have $25,000 left in the end? a. 11.36 years b. 12.13 years c. 12.85 years d. 6.71 years e. 9.92 years
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