Question
Your mother has $500,000 invested at 8.0%, and she now wants to retire. She wants to withdraw $50,000 at the end of each year. How
Your mother has $500,000 invested at 8.0%, and she now wants to retire. She wants to withdraw $50,000 at the end of each year. How many years will it take to exhaust her funds (run the account down to zero)?
| N |
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| I/Y |
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| PV |
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| PMT |
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| FV |
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The Laymans Guide To Managing Your Investments
Authors: Thomas Dunleavy
1st Edition
979-8763592214
