Your uncle has $340,000 invested at 6.1%, and he now wants to retire. He wants to...

 

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Your uncle has $340,000 invested at 6.1%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting at the end of this year. He also wants to have $25,000 left to give you when he stops withdrawing funds from the account. For how many years can he make the $35,000 withdrawals and still have $25,000 left at the end? Your answer should be between 12.32 and 20.34, rounded to 2 decimal places, with no special characters. Your uncle has $340,000 invested at 6.1%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting at the end of this year. He also wants to have $25,000 left to give you when he stops withdrawing funds from the account. For how many years can he make the $35,000 withdrawals and still have $25,000 left at the end? Your answer should be between 12.32 and 20.34, rounded to 2 decimal places, with no special characters.

Answer rating: 100% (QA)

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