Future value and number of annuity payments

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Reference no: EM132014359

Future Value and Number of Annuity Payments

Your client has been given a trust fund valued at $1.52 million. She cannot access the money until she turns 65 years old, which is in 15 years. At that time, she can withdraw $21,000 per month.

If the trust fund is invested at a 5 percent rate, compounded monthly, how many months will it last your client once she starts to withdraw the money? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Number of months

Reference no: EM132014359

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