Question: Answer for this question A 18 years is the correct answer. I need to steps of answering this question in detiels on EXCEL Youve

Answer for this question " A 18 years "is the correct answer. I need to steps of answering this question in detiels on EXCEL

Youve invested your savings at 5.5% and been able to accumulate $500,000. You'l like to withdraw $45,000 at the end of every year. How long until the balance has been reduced to $50,000? (round down to the nearest whole year)

a. 18 years

b. 16 years

c. 17 years

d. 10 years

e. 15 years

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