At age 60, a man established a trust fund of R20 000 which will pay his family a regular amount at the end of each month for 12 years after his death. If he dies at age 65, what monthly sum will the family receive if the fund earns 3% p.a. compounded monthly and if the first payment will be made 1 month after his death?
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At age 60, a man established a trust fund of R20 000 which will pay his family a regular amount at the end of each month for 12 years after his death. If he dies at age 65, what monthly sum will the family receive if the fund earns 3% p.a. compounded monthly and if the first payment will be made 1 month after his death?
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- By the condition of a will, the sum of P 20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P 50,000. When will the girl receive the money, if the fund is to be invested at 8% compounded quarterly?A young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the original amount placed in trust was $50,000, how much will he receive if the money has earned interest at the rate of 8%/year compounded annually? Compounded quarterly? Compounded monthly?By the conditions of a will, the sum of P20,000 is left to a girl to be held in a trust fund by her guardian until it amounts to P50,000. When will the girl received the money if fund invested at 8% compounded quarterly?
- Mr. Larsen's will directed that $209.000 be invested to establish a perpetuity making payments at the end of each month to his wife for as long as she lives and subsequently to the Canadian Heart Foundation. What will the payments be if the funds can be invested to eam 6.0% compounded monthly? Monthly payments will beA man intends to save up money for his retirement so that he can withdraw equal sums of P18,000 for his yearly needs from his 60th to 70th birthdays. For his 41st to 59th birthdays, he invests an equivalent amount in a fund that earns 12%. What should the amounts for each of them be?A young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the original amount placed in trust was $20,000, how much will he receive if the money has earned interest at the rate of 9%/year compounded annually? Compounded quarterly? Compounded monthly? (Round your answers to the nearest cent.) compounded annually compounded quarterly compounded monthly
- Janet Lopez wishes to establish a trust fund from which her son can withdraw $15,000 every six months for 21 years, when he reaches 25 years old. At the end of which time, he will receive the remaining money in the trust, which she would like to be $100,000. The trust will be invested at 7% per annum compounded semi-annually. How large should the trust be?A man wishes to provide a fund for his retirement such that from his 60th to 70th birthdays he will be able to withdraw equal sums of P18,000 for his yearly expenses. He invests equal amount for his 41st to 59th birthdays in a fund earning 10% compounded annually. How much should each of these amounts be? Please show the whole solution.Abigail wishes to establish a trust fund from which her daughter can withdraw $6,000 every six months for 15 years, when she reaches 16 years old. At the end of which time, she will receive the remaining money in the trust, which she would like to be $25,000. The trust will be invested at 6% per annum compounded semi-annually. How large should the trust be?
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