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How long until the balance has been reduced

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Problem 1: You've invested your savings at 7.5% and been able to accumulate $350,000. You'd like to withdraw $35,000 at the end of every year. How long until the balance has been reduced to $25,000? (round down to the nearest whole year)

a. 19 years
b. 9 years
c. 14 years
d. 15 years
e. 11 years

Reference no: EM132968372

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