Present and future values of $$1$ at $3\%$ are presented below:

NFV $$1$PV $$1$FVA $$1$PVA $$1$FVAD $$1$PVAD $$111\mathrm{.}030000\mathrm{.}970871\mathrm{.}00000\mathrm{.}970871\mathrm{.}03001\mathrm{.}0000021\mathrm{.}060900\mathrm{.}942602\mathrm{.}03001\mathrm{.}913472\mathrm{.}09091\mathrm{.}9708731\mathrm{.}092730\mathrm{.}915143\mathrm{.}09092\mathrm{.}828613\mathrm{.}18362\mathrm{.}9134741\mathrm{.}125510\mathrm{.}888494\mathrm{.}18363\mathrm{.}717104\mathrm{.}30913\mathrm{.}8286151\mathrm{.}159270\mathrm{.}862615\mathrm{.}30914\mathrm{.}579715\mathrm{.}46844\mathrm{.}7171061\mathrm{.}194050\mathrm{.}837486\mathrm{.}46845\mathrm{.}417196\mathrm{.}66255\mathrm{.}5797171\mathrm{.}229870\mathrm{.}813097\mathrm{.}66256\mathrm{.}230287\mathrm{.}89236\mathrm{.}4171981\mathrm{.}266770\mathrm{.}789418\mathrm{.}89237\mathrm{.}019699\mathrm{.}15917\mathrm{.}2302891\mathrm{.}304770\mathrm{.}7664210\mathrm{.}15917\mathrm{.}7861110\mathrm{.}46398\mathrm{.}01969101\mathrm{.}343920\mathrm{.}7440911\mathrm{.}46398\mathrm{.}5302011\mathrm{.}80788\mathrm{.}78611111\mathrm{.}384230\mathrm{.}7224212\mathrm{.}80789\mathrm{.}2526213\mathrm{.}19209\mathrm{.}53020121\mathrm{.}425760\mathrm{.}7013814\mathrm{.}19209\mathrm{.}9540014\mathrm{.}617810\mathrm{.}25262131\mathrm{.}468530\mathrm{.}6809515\mathrm{.}617810\mathrm{.}6349616\mathrm{.}086310\mathrm{.}95400141\mathrm{.}512590\mathrm{.}6611217\mathrm{.}086311\mathrm{.}2960717\mathrm{.}598911\mathrm{.}63496151\mathrm{.}557970\mathrm{.}6418618\mathrm{.}598911\mathrm{.}9379419\mathrm{.}156912\mathrm{.}29607161\mathrm{.}604710\mathrm{.}6231720\mathrm{.}156912\mathrm{.}5611020\mathrm{.}761612\mathrm{.}93794$

Debbie has $$381,208$ accumulated in a $401$K plan. The fund is earning a low, but safe, $3\%$ per year. The withdrawals will take place annually starting today. How soon will the fund be exhausted if Debbie withdraws $$40,000$ each year?

Multiple Choice

$11\mathrm{.}0$ years

$12\mathrm{.}0$ years

$10\mathrm{.}0$ years

$13\mathrm{.}3$ years

Present and future values of $$1$ at $3\%$ are presented below:

NFV $$1$PV $$1$FVA $$1$PVA $$1$FVAD $$1$PVAD $$111\mathrm{.}030000\mathrm{.}970871\mathrm{.}00000\mathrm{.}970871\mathrm{.}03001\mathrm{.}0000021\mathrm{.}060900\mathrm{.}942602\mathrm{.}03001\mathrm{.}913472\mathrm{.}09091\mathrm{.}9708731\mathrm{.}092730\mathrm{.}915143\mathrm{.}09092\mathrm{.}828613\mathrm{.}18362\mathrm{.}9134741\mathrm{.}125510\mathrm{.}888494\mathrm{.}18363\mathrm{.}717104\mathrm{.}30913\mathrm{.}8286151\mathrm{.}159270\mathrm{.}862615\mathrm{.}30914\mathrm{.}579715\mathrm{.}46844\mathrm{.}7171061\mathrm{.}194050\mathrm{.}837486\mathrm{.}46845\mathrm{.}417196\mathrm{.}66255\mathrm{.}5797171\mathrm{.}229870\mathrm{.}813097\mathrm{.}66256\mathrm{.}230287\mathrm{.}89236\mathrm{.}4171981\mathrm{.}266770\mathrm{.}789418\mathrm{.}89237\mathrm{.}019699\mathrm{.}15917\mathrm{.}2302891\mathrm{.}304770\mathrm{.}7664210\mathrm{.}15917\mathrm{.}7861110\mathrm{.}46398\mathrm{.}01969101\mathrm{.}343920\mathrm{.}7440911\mathrm{.}46398\mathrm{.}5302011\mathrm{.}80788\mathrm{.}78611111\mathrm{.}384230\mathrm{.}7224212\mathrm{.}80789\mathrm{.}2526213\mathrm{.}19209\mathrm{.}53020121\mathrm{.}425760\mathrm{.}7013814\mathrm{.}19209\mathrm{.}9540014\mathrm{.}617810\mathrm{.}25262131\mathrm{.}468530\mathrm{.}6809515\mathrm{.}617810\mathrm{.}6349616\mathrm{.}086310\mathrm{.}95400141\mathrm{.}512590\mathrm{.}6611217\mathrm{.}086311\mathrm{.}2960717\mathrm{.}598911\mathrm{.}63496151\mathrm{.}557970\mathrm{.}6418618\mathrm{.}598911\mathrm{.}9379419\mathrm{.}156912\mathrm{.}29607161\mathrm{.}604710\mathrm{.}6231720\mathrm{.}156912\mathrm{.}5611020\mathrm{.}761612\mathrm{.}93794$

Debbie has $$381,208$ accumulated in a $401$K plan. The fund is earning a low, but safe, $3\%$ per year. The withdrawals will take place annually starting today. How soon will the fund be exhausted if Debbie withdraws $$40,000$ each year?

Multiple Choice

$11\mathrm{.}0$ years

$12\mathrm{.}0$ years

$10\mathrm{.}0$ years

$13\mathrm{.}3$ years