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