You have $255,906 in a savings account. The interest rate is 3% per year. The withdrawals will
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You have $255,906 in a savings account. The interest rate is 3% per year. The withdrawals will take place at the end of each year, with the first withdrawal at the end of this year. How soon will the savings be exhausted if you withdraw $30,000 each year?
Related Book For
Financial Accounting
ISBN: 978-1259222139
9th edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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