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Your uncle has $320,000 invested at 7.9%, and he now wants to retire. He wants...

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Finance

Your uncle has $320,000 invested at 7.9%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, starting at the end of this year. He also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. For how many years can he make the $35,000 withdrawals and still have $25,000 left in the end? a. 16.85 years b. 16.09 years c. 17.57 years d. 13.85 years e. 8.43 years

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