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QUESTION
Your father has $500,000 invested at 8%, and he now wants to retire. He wants to withdraw $50,000 at the beginning of each year, beginning...
Your father has $500,000 invested at 8%, and he now wants to retire. He wants to withdraw $50,000 at the beginning of each year, beginning immediately. How many yearse will it take to exhaust his funds, i.e. run the account down to zero?.
