Question
Your uncle has $ 392,000 invested at 6.8% and he now wants to retire. He plans to withdraw $ 60,000 at the end of eachyear,
Your uncle has $392,000invested at6.8%and he now wants to retire. He plans to withdraw $60,000at the end of eachyear, beginning this year.
How many years will it take to exhust his funds, i.e., run the account down to zero? ____years (Round answer to one decimal place.)
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Forecasting Methods And Applications
Authors: Spyros G. Makridakis, Steven C. Wheelwright, Rob J Hyndman
3rd Edition
0471532339, 9780471532330
