Your Aunt Ruth 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.How many years will it take to exhaust her funds,i.e.,run the account down to zero?

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The Answer of Your Aunt Ruth 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.How many years will it take to exhaust her funds,i.e.,run the account down to zero?

Your Aunt Ruth Has $500,000 Invested at 6