Answer
Laura has been retired for 112 months = 9 years, 4 months.
Step-by-step explanation
We are told that Laura had saved about $500,000 over the course of her career. She plans to withdraw $2,000 each month for living expenses.
After a certain amount of time, the balance in Laura's account was $276,000.
We are then told to find the number of months it has been since Laura retired.
Let the number of months since Laura has retired be x months.
If she keeps withdrawing $2000 monthly, in x months, she would have withdrawn $2000 × x = (2000x) dollars
And we know that
(Initial amount in the account) - (Amount that she has withdrawn) = (Amount left in the account)
Initial amount in the account = $500,000
Amount that she has withdrawn = (2000x) dollars
Amount left in the account = $276,000
(Initial amount in the account) - (Amount that she has withdrawn) = (Amount left in the account)
500,000 - 2000x = 276,000
-2000x = 276,000 - 500,000
-2000x = -224,000
Divide both sides by -2000
(-2000x/-2000) = (-224,000/-2000)
x = 112 months
Hope this Helps!!!