Your client once he starts to withdraw money

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Reference no: EM132061093

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?

Reference no: EM132061093

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