Answer:
17 years afters the 1st retirement.
Explanation:
Folowing the rule of 4% per year and substracting $100,000 every January 1st, Pete will be depleting his retirement fund in 17 years. The calculation is simple:
Unspent balance Year 2: 1,360,000-100,000=1,260,000.
Unspent balance Year 3: (1,260,000*(1+0,04))-100,000=1,210,400.
Unspent balance Year 4: (1,210,400*(1+0,04))-100,000=1,158,816
and so on until depletion