Annuities (5): Illustration (2): When Joe retires on his 65 th birthday, his retirement fund carries a balance of $240,000. If Joe transfers this bala
{"Image DocumentName": "Annuities (5):", "Image ImageDescription": "Illustration (2): When Joe retires on his 65th birthday, his retirement fund carries a balance of  240,000. If Joe transfers this balance into a fund earning 8% to pay him or his heirs  2,000 per month until the fund is exhausted, how long can this annuity last? Approx 242 months\u2014just over 20 years! (Assuming 8% is consistent and there is no risk of loss of principal!)", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}