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Present and future value tables of $1 at 3% are presented below. N 1 FV $1 1.03000 PV $1 0.97087 FVA $1 PVA $1 FVAD

image text in transcribed Present and future value tables of $1 at 3% are presented below. N 1 FV $1 1.03000 PV $1 0.97087 FVA $1 PVA $1 FVAD $1 1.0000 0.97087 1.0300 PVAD $1 1.00000 2345 1.06090 0.94260 1.09273 0.91514 3.0909 1.12551 0.88849 1.15927 0.86261 2.0300 1.91347 2.0909 1.97087 2.82861 3.1836 2.91347 5.3091 4.1836 3.71710 4.57971 4.3091 3.82861 4.71710 6 1.19405 0.83748 6.4684 5.41719 5.4684 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 8 1.26677 0.78941 8.8923 7.01969 9 1.30477 0.76642 10.1591 7.78611 7.8923 6.41719 9.1591 7.23028 10.4639 8.01969 10 1.34392 0.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.72242 12.8078 12 1.42576 0.70138 13 1.46853 0.68095 14 1.51259 0.66112 17.0863 14.1920 9.25262 9.95400 13.1920 9.53020 14.6178 10.25262 15.6178 10.63496 16.0863 10.95400 11.29607 15 1.55797 0.64186 18.5989 11.93794 16 1.60471 0.62317 20.1569 12.56110 17.5989 11.63496 19.1569 20.7616 12.29607 12.93794 Jimmy has $467,938 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 $44,000 each year

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