Solved

A Trust Fund Is Being Set Up by a Single

Question 8

Short Answer

A trust fund is being set up by a single payment so that at the end of 5 years there will be $10,000 in the fund.If the interest rate is 3 A trust fund is being set up by a single payment so that at the end of 5 years there will be $10,000 in the fund.If the interest rate is 3    % compounded quarterly,how much money should be paid initially into the trust fund?
% compounded quarterly,how much money should be paid initially into the trust fund?

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions