1. Mr. Webster is getting ready to retire.  He has worked hard all of his life and saved $1,000,000 in this retirement fund.  Mr. Webster would like to withdraw $5,000 a month. He can expect a growth rate of 4% on his investment that has not been withdrawn.  
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3. How many years can Mr. Webster expect to receive his $5,000 monthly payments until his retirement fund is 100% used?

Answer rating: 100% (QA)

To determine the number of years Mr Webster can expect to receive his 5000 monthly payments until hi... View the full answer