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16) Mrs. Riin Rivanool set up a trust fund today for her great-grand- daughters education that would help with her education in 18 years from

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16) Mrs. Riin Rivanool set up a trust fund today for her great-grand- daughters education that would help with her education in 18 years from today. If she deposits $119 at the end of every month for those 18 years into a trust earning 7% compounded quarterly, determine: (a) How much money is there in 18 years from today? (b) What beginning of the quarter payment can be made for 8 years after the original 18 years) from the same 7% compound quarterly trust fund, before it runs out? 17) Mr. Pink invests $500 at the end of every month for 15 years into his Reservoir Dog Mutual Fund that is expected to earn a stunning 10% compounded quarterly! Determine: I (a) How much money is in the account in 15 year? (b) If he leaves the money in the account for another 7 % years after the original 15 years to just earn interest (payments are stopped), how much is in the account in 22.5 years

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