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Your uncle has $240,000 invested at 6.70% , and he now wants to retire. He wants to withdraw $35,000 at the end of each year,
Your uncle has
$240,000
invested at
6.70%
, and he now wants to retire. He wants to withdraw
$35,000
at the end of each year, beginning at the end of this year. He also wants to have
$15,000
left to give you when he ceases to withdraw funds from the account. What is the maximum number of
$35,000
withdrawals that he can make and still have at least
$15,000
left in the account? Round your answer to 2 decimal places.\ a. 9.49\ b. 9.04\ c. 6.43\ d. 7.98\ e. 9.92
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