Your client has been given a trust fund valued at $1.64 million. She cannot access the money until she turns 65 years old, which is in 15 years. At that time, she can withdraw $18,000 per month. If the trust fund is invested at a 4.5 percent rate, 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
Your client has been given a trust fund valued at $1.64 million. She cannot access the money until she turns 65 years old, which is in 15 years. At that time, she can withdraw $18,000 per month. If the trust fund is invested at a 4.5 percent rate, 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
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 67SE: Alyssa opened a retirement account with 7.25 APRin the year 2000. Her initial deposit was 13,500....
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Your client has been given a trust fund valued at $1.64 million. She cannot access the money until she turns 65 years old, which is in 15 years. At that time, she can withdraw $18,000 per month.
If the trust fund is invested at a 4.5 percent rate, 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?
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