Alberto saved enough tip money from working at the casino to place $125,500 in an investment account

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Alberto saved enough tip money from working at the casino to place $125,500 in an investment account generating 9.25% compounded monthly. He wants to collect a monthly income of $1,350, at the beginning of each month, for as long as the money lasts. Approximately, how many months will Alberto have this income coming to him?

a. 139.

b. 145;

c. 152,

d. 162.

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Fundamentals Of Financial Planning

ISBN: 9781936602094

3rd Edition

Authors: Michael A Dalton, Joseph Gillice

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