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Present and future value tables of $1 at 3% are presented below: FVAD $1 N 1 2 3 4 5 6 7 FV $1 1.03000 1.06090 1.09273 1.1255
Jimmy has $442,350 accumulated in a 401k plan. The fund is earning a low, but sate, 3% per year. The withdrawals will take pl
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Answer #1

rate positively ..

We have to use financial calculator to solve this
put in calculator
FV 0
PV -442350
PMT 72000
I 3%
compute N                     7
Ans = 7 year
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