You Have $100,000 Saved Today and Plan to Withdraw $8,000

question 87

Multiple Choice

You have $100,000 saved today and plan to withdraw $8,000 a year.How long can you make these withdrawals if you earn an annual percentage rate of 3.5 percent?

• A)14.96 years
• B)15.48 years
• C)16.73 years
• D)18.08 years
• E)19.00 years

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Definitions:

Emollient

A substance that softens and moisturizes the skin, reducing itching and flaking by forming a protective layer on the skin surface.

Lubricant

A substance applied to reduce friction between surfaces in mutual contact, which can also refer to products used to facilitate various medical or personal procedures.

Peristalsis

The series of wave-like muscle contractions that move food through the digestive tract.

Mass Colonic Peristalsis

The coordinated contraction and relaxation of colon muscles that moves content through the colon.