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you can use the information from thislink to solve the problem: https://www.chegg.com/homework-help/questions-and-answers/4-instead-saving-someone-else-expect-live-90-years-old-point-plan-money-left--earn-5-per-y-q23975715 Assuming the latter scenario (you plan to leave nothing to your heirs -
you can use the information from thislink to solve the problem: https://www.chegg.com/homework-help/questions-and-answers/4-instead-saving-someone-else-expect-live-90-years-old-point-plan-money-left--earn-5-per-y-q23975715
Assuming the latter scenario (you plan to leave nothing to your heirs - question #4), how much of the principle amount of money that you saved do you still have left after 5 years? Hint: Treat this like an amortizing loan. The amount that you saved is like the loan amount and the payments are the amount that you use each year to spend on expenses.
Suppose that instead of being responsible, you spend $150,000 per year. How long will it be until you are broke?
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