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Mars2501 [29]
3 years ago
12

An engineer who invested very well plans to retire now because she has $2,000,000 in her ORP account. How long will she be able

to withdraw $100,000 per year (beginning 1 year from now) if her account earns interest at a rate of 4% per year?
Engineering
1 answer:
Ede4ka [16]3 years ago
8 0

Answer:

20 years

Explanation:

You do 2,000,000 ÷ 100,000 but you can simplify that to 20 ÷ 1 = 20

During those 20 years, the profits you earn will be 80,000 since when you do 2,000,000 x 0.04 but you can simplify that to 20,000 x 4 getting 80,000 and that quite doesn't reach 100,000 dollars

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External depreciation may be defined as a loss in value caused by an undesirable or hazardous influence offsite.

<h3>What is depreciation?</h3>

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External depreciation may also be referred to as "economic obsolescence". It causes a negative influence on the financial value gradually.

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