1.You invest $300,000 today at a rate of 3.8%. You take $1,800 a month out...
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Finance
1.You invest $300,000 today at a rate of 3.8%. You take $1,800 a month out of your account and spend it. How much will you have in your account in 6 years?
Group of answer choices
$216,224
$290,698
2.You put $1,400,000 in an account earning a 3.5% rate of return. You take $7,000 out of this account each month. How long will it take for this account to be completely depleted?
Group of answer choices
18.54 years
95.51 years
102.42 years
25.05 years
$231,383
$209,124
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