You have saved $250,000 and wish to retire today. For how many years can you draw $30,000, at the end of each year, if you can continue to earn interest at a rate of: Using excel
a. 5%?
b. 8%?
c. 10%?
d. 11%
(Length of an annuity due) Redo Problem 23 assuming that you make your withdrawals at the beginning of each year. using excel
calc:
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