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At age 60, a man established a trust fund of R20 000 which will pay his family a regular amount at the end of each
At age 60, a man established a trust fund of R20 000 which will pay his family a regular amount at the end of each month for 12 years after his death. If he dies at age 65, what monthly sum will the family receive if the fund earns 3% p.a. compounded monthly and if the first payment will be made 1 month after his death?
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
