Your client has been given a trust fund valued at $1.06 million. He cannot access...

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Accounting

Your client has been given a trust fund valued at $1.06 million. He cannot access the money until he turns 65 years old, which is in 25 years. At that time, he can withdraw $28,000 per month.
If the trust fund is invested at a 5.5 percent rate, how many months will it last your client once he starts to withdraw the money?
Note: Assume annual compounding. Do not round intermediate calculations and round your final answer to 2 decimal places.
Number of months
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