Suppose we lived in a society without interest. At age 25, you begin putting in $750 per month into a cookie jar until you retire at age 65. At age 65, you begin to withdrawl 2500 per month from the cookie jar. How long will your retirement fund last?

It will last 12 years. So it'll last till he's 77 years old at the rate he's pulling it out.

Step-by-step explanation:

You need to find the difference in the ages. so we need to find out how long he's been saving in the 1st place. 65 - 25 = 40 yearsWe now need to covert that 40 years into months. 40 × 12 = 480 months In order to know how much money he saved over that 40 years or 480 months times that by 750. 480 × 750 = 360,000Now we know over the course of 40 years he managed to save 360,000$ when he was putting in 750 a month. Now since he's retired he's taking out 2500 a month and we need to know how long it'll last.So to find out how long the 360k will last if taken out of 2500 increments just divide that rate but the total !! 360,000 ÷ 2500 = 144It will last him 144 months, now convert this number back to years. 144 ÷ 12 = 12 years So now we know it'll last him for 12 years ! and if u add 12 to 65 you'll get 77, so in 12 years he'll be 77!!

This is why it'll last him 12 years, which he'll be 77 by that time

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