Monali is 60 years old and has been thinking of retiring for some time. She is just not sure how long her life-long savings will last and is making her hesitant. She has turned to you for help. She explains that to date, she has saved 70,000 and wishes to receive600 a month for spending money. At an interest rate of 6%, compounded monthly, how many months will her money last?
a. 183 months
b. 176 months
c. 243 months
d. 173 months