Question: After a long career an engineer retires with $ 1 . 4 million in a retirement account. The engineer spends $ 7 8 , 0

After a long career an engineer retires with $1.4 million in a retirement account. The engineer spends $78,000 per year from this account in retirement and the account earns 3% interest per year. How many years will the retirement account last? Express your answer in years to the nearest whole year.
After a long career an engineer retires with $ 1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Civil Engineering Questions!