A parent establishes a trust fund of $1,000,000 for their child. The trust fund will pay out

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A parent establishes a trust fund of $1,000,000 for their child. The trust fund will pay out 20 equal annual payments to the child starting in 10 years time. Calculate these payments if the trust fund pays annual interest of 5%.

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Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Nov 23, 2023 05:55 AM

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A parent establishes a trust fund of $1,000,000 for their child. The trust fund will pay out

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