In: Finance
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Present Value of amount Invested = $320,000
Periodic Withdrawal at the end of each year = $35,000
Future Value to left to give you when he ceases to withdraw funds = $25,000
Calculating the number of years he can make the withdrawal and still have future left using Excel "NPER" function:-
So, the number of years he can make the withdrawal and still have future left is 16.73 years
Option D. 17 years(rounding off the decimal to nearest year)
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