Question
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
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 withdrawal $22,000 per month.
If the trust fund is invested at a 4.5 percent rate, how many months will it last your client once he starts to withdraw the money?
number of months?
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
3rd Canadian Edition
978-0133035575, 133035573, 978-0133970524, 133970523, 978-0134040042
