Question:
Your Aunt Ruth has $540,000 invested at 6.5%, and she plans
Last updated: 8/12/2022
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Your Aunt Ruth has $540,000 invested at 6.5%, and she plans to retire. She wants to withdraw $40,000 at the beginning of each year, starting immediately. How many years will it take to exhaust her funds, i.e., run the account down to zero? O a. 24.55 b. 28.41 O c. 25.65 d. 30.62 e. 27.58 1