Question: 1. Peter Barone is considering taking early retirement, having saved $500,000. Barone wishes to determine how many years the savings will last if $70,000 per

1. Peter Barone is considering taking early retirement, having saved $500,000. Barone wishes to determine how many years the savings will last if $70,000 per year is withdrawn at the end of each year. Barone feels the savings can earn 8% per year. How many years will Barones savings last?

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