Aunt Elsa has $500,000 invested at 6.5%, and she plans to retire.She wants to withdraw $40,000 at the beginning of each year, starting immediately.What is the maximum number of whole payments that can be withdrawn before the account is exhausted; i.e., before the account balance would become negative? (Hint: Round down to the nearest whole number.)

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The Answer of Aunt Elsa has $500,000 invested at 6.5%, and she plans to retire.She wants to withdraw $40,000 at the beginning of each year, starting immediately.What is the maximum number of whole payments that can be withdrawn before the account is exhausted; i.e., before the account balance would become negative? (Hint: Round down to the nearest whole number.)

Aunt Elsa Has $500,000 Invested at 6