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A parent establishes a trust fund of $1,000,000 for their child. The trust fund will pay out 20 equal annual payments to the child starting
A parent establishes a trust fund of $1,000,000 for their child. The trust fund will pay out 20 equal annual payments to the child starting in 10 years time. Calculate these payments if the trust fund pays annual interest of 5%.
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
