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How many years before the money runs out

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Problem 1: Dan inherited $160,000 and found an investment that would pay him 6% compounded quarterly. If he wanted to withdraw $1,500 every month, how many years before the money runs out? Show your work for part marks: Input the calculator values you inputted, for example [ P/Y=4, N = 20 and so on] and enter your final value without commas, for example (1250 not 1,250), rounded to 1 decimal place.

Reference no: EM133004404

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