Your uncle has $500,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $40,000 at the BEGINNING of each year, beginning immediately. How many years will it take to exhaust his funds, i.e., run the account down to zero?

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The Answer of Your uncle has $500,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $40,000 at the BEGINNING of each year, beginning immediately. How many years will it take to exhaust his funds, i.e., run the account down to zero?

Your Uncle Has $500,000 Invested at 7