Question: When his son turns 10, a parent makes a deposit in a trust in his son's name in order to ensure university studies which he
When his son turns 10, a parent makes a deposit in a trust in his son's name in order to ensure university studies which he will begin when he turns 18 if the trust recognizes an interest rate of 10.25% apt and estimating that At that time the value of the tuition at the university will be $2,500,000 and it will grow by 5% each semester during the 6 years that the studies last. Should Cull be the value of the deposit?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
