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How many years can she withdraw

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Your Aunt Marie invested $300,000 at 7.5% and wants to retire. She plans to withdraw $35,000 at the end of every year, starting at the end of this year. She also wants to leave $25,000 for her niece in the account. How many years can she withdraw $35,000 and have $25,000 left in the end? Show your work.

Reference no: EM131657583

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