Time period based problem


Problem:

A client is given a trust fund worth $1,000,000.00. He can't access any money until he turns 65, which is in 25 years. At that time, he can withdraw $25,000 per month. If the trust fund is invested at a 5.5% rate, how many months will it last him once he starts withdrawing the money (until there is none left)?

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Finance Basics: Time period based problem
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