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Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 1 1.03000 0.97087 2 1.06090 0.94260 3 1.09273
Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 1 1.03000 0.97087 2 1.06090 0.94260 3 1.09273 0.91514 4 1.12551 0.88849 5 1.15927 0.86261 6 1.19405 0.83748 7 1.22987 0.81309 8 1.26677 0.78941 9 1.30477 0.76642 10 1.34392 0.74409 11 1.38423 0.72242 12 1.42576 0.70138 13 1.46853 0.68095 14 1.51259 0.66112 15 1.55797 0.64186 16 1.60471 0.62317 FVA $1 PVA $1 1.0000 0.97087 2.0300 1.91347 3.0909 2.82861 4.1836 3.71710 5.3091 4.57971 6.4684 5.41719 7.6625 6.23028 8.8923 7.01969 10.1591 7.78611 11.4639 8.53020 12.8078 9.25262 14.1920 9.95400 15.6178 10.63496 17.0863 11.29607 18.5989 11.93794 20. 1569 12.56110 FVAD $1 PVAD $1 1.0300 1.00000 2.0909 1.97087 3. 1836 2.91347 4.3091 3.82861 5.4684 4.71710 6.6625 5.57971 7.8923 6.41719 9.1591 7.23028 10.4639 8.01969 11.8078 8.78611 13. 1920 9.53020 14.6178 10.25262 16.0863 10.95400 17.5989 11.63496 19. 1569 12.29607 20.7616 12.93794 Debbie has $657,240 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 $60,000 each year
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