Your Client Has Been Given a Trust Fund Valued at $1

question 33

Multiple Choice

Your client has been given a trust fund valued at $1 million. She cannot access the money until she turns 68 years old, which is in 12 years. At that time, she can withdraw $30,000 per month. If the trust fund is invested at a 7 percent interest rate, how many months will it last your client once she starts to withdraw the money?

• A) 77.05 months
• B) 81.05 months
• C) 99.05 months
• D) 119.05 months

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Definitions:

Vocal Member

An individual within a group who is more outspoken or active in expressing opinions and influencing group dynamics.

Averaging

The mathematical process of finding the central or typical value of a set of numbers by dividing the sum of all values by the number of values.

Rule By An Individual

A governance or leadership style where a single person holds complete control and authority over decision-making.

Primary Function

The main or core purpose for which something exists or is used.