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Your uncle has $300,000 invested at 7%, and he now wants to retire. He wants to withdraw $25,000 at the end of each year, starting
Your uncle has $300,000 invested at 7%, and he now wants to retire. He wants to withdraw $25,000 at the end of each year, starting at the end of this year. He also wants to have $50,000 left to give you when he ceases to withdraw funds from the account. For how many years can he make the $25,000 withdrawals and still have $50,000 left in the end? Question 13 options: a) 24.86 b) 23.39 c) 15.67 d) 15.80 e) 14.19
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