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Connect Only Problem 4 and 5-2 Future Value and Number of Annuity Payments Your client has been given a trust fund valued at $1.61 million.
Connect Only Problem 4 and 5-2 Future Value and Number of Annuity Payments Your client has been given a trust fund valued at $1.61 million. She cannot access the money until she turns 65 years old, which is in 20 years. At that time, she can withdraw $19,500 per month. If the trust fund is invested at a 4 percent rate, how many months will it last your client once she starts to withdraw the money? Note: Do not round intermediate calculations and round your final answer to 2 decimal places
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