Question: 7 . Suppose you accumulated $ 5 0 0 , 0 0 0 , perhaps from many years of saving. You put the money in

7. Suppose you accumulated $500,000, perhaps from many years of saving. You put the money in a savings plan earning 2.8% compounded monthly. If you want to withdraw $2,300 at the beginning of each month, how long before the savings plan is exhausted?

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