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Present and Future Value Tables of $1 at 3% Are

question 19

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Present and future value tables of $1 at 3% are presented below:
Present and future value tables of $1 at 3% are presented below:   -Jimmy has $255,906 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Jimmy withdraws $30,000 each year? A)  11 years. B)  10 years. C)  8.5 years. D)  8.8 years.
-Jimmy has $255,906 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Jimmy withdraws $30,000 each year?

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