Your client once she starts to withdraw the money

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Reference no: EM131878372

Your client has been given a trust fund valued at $1.51 million. She cannot access the money until she turns 65 years old, which is in 20 years. At that time, she can withdraw $20,500 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 she starts to withdraw the money?

Reference no: EM131878372

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