Question: A $530,000 trust fund earns 9.9% compounded semi-annually. It is to makA $530,000 trust fund earns 9.9% compounded semi-annually. It is to make payments at

A $530,000 trust fund earns 9.9% compounded semi-annually. It is to makA $530,000 trust fund earns 9.9% compounded semi-annually. It is to make payments at the end of every month in perpetuity. What will be the size of the monthly payments? Enter answer to 2 decimal placese payments at the end of every month in perpetuity. What will be the size of the monthly payments? Enter answer to 2 decimal places

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

A rural clinic hires its staff from nearby cities and towns on a part-time basis. The clinic attempts to have a general practitioner (GP), a nurse, and an internist on duty during at least a portion...

Please use only TA BA || calculator features (N,I/Y,PV,PMT,FV,AMORT) they should be answerd by calcultor not formuls You MUST use the TI BA II calculator features (N,I/Y,PV, PMT, FV, AMORT) to solve...

please help me answer these questions thank you. Which of the following is a valid criticism concerning the goal of firms to maximize profits? Profit maximization ignores expenses. There are no valid...

1. A company wants to have $50,000 at the beginning of each 6-month period for the next 4 1/2 years. If an annuity is set up for this purpose, how much must be invested now if the annuity earns...

You hope to purchase a new house in the next 33 months and require $75 000 as a down payment. What quarterly payments should you make to a tax-free savings account (at the beginning of each quarter)...

Hello. I'm looking for some help completing my finance project. (10% total course grade) There are quite a few questions. (40 total) I can check the answers one time before submitting. Hoping for...

Mini Case-Lots of Plan Jenny Smith, 28. just received a promotion at work. Her salary has increased to $40 000 and she is now eligible to participate in her employer's pension plan. The employer...

A payment of $12,145 is due in 3 year, $18,000 is due in 4 years, and $9,000 is due in 7 years. What single equivalent payment made today would replace the three original payments? Assume that money...

MULTIPLE CHOICE 1 Using the recurrence relation t0 = 8, tn+1 = tn + 9, the sixth term would be: A 2 15 B 17 C 23 D 53 E 62 A canoe costs $40 to hire for the first day and $30 for each extra day. If...

I need help with these business mathematics questions. I have provided each page number and what questions need answered on each screenshot. Please write the page number and what question the answer...

Write the last digit of your 1000 student ID number: _4_ You know that in a specific population of rainbow trout 15% of the individuals carry intestinal parasites. Assume you obtain a random sample...

The AICPA has issued attestation standards in recognition that attestation services can be much broader than audits of an entity's financial statements. One type of an attestation is a "fairness...

13. Ocampo SA purchased for 2,200,000 property that included both land and a building to be used in operations. The sellers book value was 300,000 for the land and 900,000 for the building. By...

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...