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

question 134

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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% interest rate, how many months will it last your client once she starts to withdraw the money?


Definitions:

Required Topic

A subject or area designated as necessary or obligatory to study, address, or complete.

National Association For Medical Assistants

A professional organization that represents the interests of medical assistants and promotes their professional skills and ethics in the healthcare industry.

Orthopedic Medical Assistant

A healthcare professional who supports orthopedic physicians in treating musculoskeletal system conditions.

Musculoskeletal System

The organ system that enables humans to move using the muscular and skeletal systems, including bones, muscles, cartilage, tendons, ligaments, and joints.

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