Your aunt ruth has $500,000 invested at 6.5%, and she plans to retire. she wants to withdraw $40,000 at the beginning of each year, starting immediately. how many years will it take to exhaust her funds, i. e., run the account down to zero?

Carmen’s beauty salon has estimated monthly financing requirements for the next six months as follows: january $ 9,000 april $ 9,000 february 3,000 may 10,000 march 4,000 june 5,000 short-term financing will be utilized for the next six months. projected annual interest rates are: january 9 % april 16 % february 10 may 12 march 13 june 12 what long-term interest rate would represent a break-even point between using short-term financing and long-term financing?