Trust fund valued, Your client has been given a trust fund

Trust fund valued

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Reference no: EM13927808

Your client has been given a trust fund valued at $1.16 million. He cannot access the money until he turns 65 years old, which is in 25 years. At that time, he can withdraw $22,000 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.)

Number of months _______________

Reference no: EM13927808

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Trust fund valued : Your client has been given a trust fund valued at $1.16 million. He cannot access the money until he turns 65 years old, which is in 25 years. At that time, he can withdraw $22,000 per month. If the trust fund is invested at a 4.5 percent rate, compo..

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