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Jimmy has $79,201 accumulated in a 401K plan. The fund is earning a low, but...

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Finance

Jimmy has $79,201 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Jimmy withdraws $28,000 each year? Multiple Choice 3 years 6 years 5 years 2 years

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