Answer to Question #22295 in Other Math for Vanessa
Liam just won $1 000 000 in a lottery! He set aside $100 000 for immediate spending money. The remaining amount was invested in an account that earned 6% per annum, compounded monthly. Liam made regular withdrawls of $10 000 per month from this account. Determine the # of years that Liam would be able to withdraw this monthly income.