Problem $4$ and $5-2$ Future Value and Number of Annuity Payments

Your client has been given a trust fund valued at $$1\mathrm{.}08$ million. He cannot access the money until he turns $65$ years old,

which is in $25$ years. At that time, he can withdraw $$29,000$ per month.

If the trust fund is invested at a $5\mathrm{.}5$ 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