A personal account earmarked as a retirement supplement, Financial Management

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A personal account earmarked as a retirement supplement

A personal account earmarked as a retirement supplement contains $242,100. Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $6000 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)

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Financial Management: A personal account earmarked as a retirement supplement

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Financial Management: A personal account earmarked as a retirement supplement

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