You have just inherited $100,000 as a lump-sum amount from your distant aunt. After depositing the money

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You have just inherited $100,000 as a lump-sum amount from your distant aunt. After depositing the money in a practically risk-free certificate of deposit (CD) earning 5% per year, you plan to withdraw $10,000 per year for your living expenses. How many years will your $100,000 last in view of these withdrawals?

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Engineering Economy

ISBN: 978-0133439274

16th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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