Homework Help

Other
Other
2 points a trust fund for an 8yearold child is...

Question: 2 points a trust fund for an 8yearold child is...

Question details

(2 points) A trust fund for an 8-year-old child is being set up by a single payment so that at the age 21 the child will receive $25000. Find how much the payment is if an interest rate of 3% compounded semiannually is assumed The payment is $

Solution by an expert tutor

Blurred Solution

This question has been solved

Subscribe to see this solution