Present and Future Value Tables of $1 at 3% Are

Multiple Choice

Present and future value tables of $1 at 3% are presented below:

-Jimmy has $255,906 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 $30,000 each year?

A) 11 years.
B) 10 years.
C) 8.5 years.
D) 8.8 years.