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:

Intensively

In a manner requiring a high degree of effort, concentration, or resources, often aimed at achieving a specific goal or result.