Your client has been given a trust fund valued at $1.52 million. She cannot access the money
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Question:
Your client has been given a trust fund valued at $1.52 million. She cannot access the money until she turns 65 years old, which is in 15 years. At that time, she can withdraw $21,000 per month. |
If the trust fund is invested at a 5 percent rate, compounded monthly, how many months will it last your client once she starts to withdraw the money? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
Number of months | |
Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
Posted Date: