1. . $500,000 @ 7.5% and 3.5% respectively

$542,732 @ 8% and 5% respectively.

No money is left at the end of the 20 year period.

If your planner is incapable of this issue, I submit they are not grounded in the fundamentals of planning. Note that I am referring to a "comprehensive" planner that is looking at all areas of your life. If you are just using someone for investments and nothing else, perhaps no problem. But since most everything else you do directly impacts the rest of your life,  the more knowledgeable and current your advisor is, the better you will do.

It's your call.

(Of course, if they do not have absolute competency with a financial calculator, just get up and run away.)