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Your uncle has $310,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting

Your uncle has $310,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting at the end of this year. He also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. For how many years can he make the $35,000 withdrawals and still have $25,000 left in the end?

a.

15.19

b.

11.46

c.

13.76

d.

14.33

e.

17.20

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