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Your Uncle Has $310,000 Invested at 7

Question 155

Multiple Choice

Your uncle has $310,000 invested at 7.5%,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) 17.20
B) 14.33
C) 13.76
D) 15.19
E) 11.46

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