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Your aunt has $680,000 invested at 5.5%, and she now wants to retire. She wants...

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Accounting

Your aunt has $680,000 invested at 5.5%, and she now wants to retire. She wants to withdraw $45,000 at the beginning of each year, beginning immediately. She also wants to have $50,000 left to give you when she ceases to withdraw funds from the account. For how many years can she make the $45,000 withdrawals and still have $50,000 left in the end?

a

23.40

b.

29.40

c.

24.90

d.

36.61

e.

30.00

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