Janet Lopez wishes to establish a trust fund from which her son can withdraw $12,000 every six
Fantastic news! We've Found the answer you've been seeking!
Question:
Janet Lopez wishes to establish a trust fund from which her son can withdraw $12,000 every six months for 20 years, when she reaches 21 years old. At the end of which time, she will receive the remaining money in the trust, which she would like to be $60,000. The trust will be invested at 8% per annum compounded semi-annually. How large should the trust be?
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
Posted Date: