Future value and number of annuity payments

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Reference no: EM131562719

Problem 4 and 5-3 Future Value and Number of Annuity Payments Your client has been given a trust fund valued at $1.01 million. He cannot access the money until he turns 65 years old, which is in 30 years. At that time, he can withdraw $25,500 per month. If the trust fund is invested at a 4.5 percent rate, compounded monthly, how many months will it last your client once he starts to withdraw the money? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM131562719

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