A trust fund is to be established for three purposes (1) To provide $750,000 for the construction
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A trust fund is to be established for three purposes
(1) To provide $750,000 for the construction and $250,000 for the initial equipment of a small engineering laboratory;
(2) To pay the $150,000 per year laboratory operating cost; and
(3) To pay for $100,000 of replacement equipment every 4 years, beginning 4 years from now. At 6% interest, how much money is required in the trust fund to provide for the laboratory and equipment and its perpetual operation and equipment replacement?
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The trust fund has three components 1 P 1 million 2 For n P A i 150000006 25 millio...View the full answer
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I have great passion for mathematics subject. I love teaching math. Coming to my qualification I am a post graduate mathematics teacher with over 15 years of teaching experience. I have taught in different colleges to various levels of students. I have been tutoring mathematics subject privately at home to various students as a freelancer for various tutoring organizations. I treat my students as participants in learning not as a receivers of fixed body of knowledge. To be precise, my classes are more interactive and sure that you will get a happy experience and gain confidence in the subject and be motivated to learn the subject. Last but not the least, hard work has no substitute. So practice, practice and practice it only makes you perfect in math.
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