Present and future value tables of $1 at 3% are presented below: N FVAD $1 FV $1 1.03000 PV $1 0.97087 0.94260 PVA $1 0.97087 1 2 1.06090 3 FVA $1 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 4 5 1.09273 1.12551 1.15927 1.19405 1.22987 1.26677 1.30477 6 7 8 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 0.76642 0.74409 0.72242 0.70138 0.68095 0.66112 1.0300 2.0909 3.1836 4.3091 5.4684 6.6625 7.8923 9.1591 10.4639 11.8078 13.1920 14.6178 16.0863 17.5989 19.1569 20.7616 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 7.78611 8.53020 9.25262 9.95400 10.63496 11.29607 11.93794 12.56110 9 PVAD $1 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 12.93794 7.6625 8.8923 10.1591 11.4639 12.8078 14.1920 15.6178 17.0863 10 11 12 1.34392 1.38423 1.42576 1.46853 1.51259 1.55797 1.60471 13 14 15 0.64186 18.5989 20.1569 16 0.62317 Debbie has $245,921 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 $20,000 each year? Multiple Choice 15 years. 17 years. 14.7 years. 16.3 years