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1.2.28 The parents of three children aged 1, 3, and 6 wish to set up a trust fund that will pay 25,000 to each child

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1.2.28 The parents of three children aged 1, 3, and 6 wish to set up a trust fund that will pay 25,000 to each child upon attainment of age 18, and 100,000 to cach child upon attainment of age 21. If the trust fund will carn annual cffective interest at 10%, what amount must the parents now invest in the trust fund

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