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When you turn 5 0 you have $ 6 0 0 , 0 0 0 in a retirement account which receives 5 % annually. You

When you turn 50 you have $600,000 in a retirement account which
receives 5% annually. You plan to withdraw $50,000 each year.
(a) Set up and solve a differential equation for the balance in P(t), the amount in the
retirement account after t years.
(b) Estimate the number of years your retirement fund will last.

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