document.write( "Question 1148193: Julie won $200 000 in a lottery! She estimates that to live comfortably she will need to withdraw $5000 per month for the next 50 years. Her savings Account earns 4.25%, compounded monthly. Can Julie afford to retire and live off her lottery winnings? \n" ); document.write( "

Algebra.Com's Answer #769588 by ikleyn(52786) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "Estimations in the post by @josmiceli are very crude, but they produce the correct NEGATIVE answer.\r
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\n" ); document.write( "\n" ); document.write( "It is possible to provide more accurate estimations, but they will not change this negative answer.\r
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\n" ); document.write( "\n" ); document.write( "Again, the estimations by @josmiceli are correct, and the ANSWER is negative:\r
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document.write( "    Julie CAN NOT afford to retire and live off her lottery winnings.\r\n" );
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