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Abbigail wish to establish a trust fund from which her daughter can withdraw $6,000 every six months for 15 years, when she reach 16 years
Abbigail wish to establish a trust fund from which her daughter can withdraw $6,000 every six months for 15 years, when she reach 16 years old. At the end of which time she will receive the remaining money in the trust, which you would like to be $25,000. The trust will be invested at 6% per annum compounded semi-annually. How large should the trust be?
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