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Janice had a relative pass away when she was young, and she received an inheritance in the form of a trust fund that was established
Janice had a relative pass away when she was young, and she received an inheritance in the form of a trust fund that was established on her th birthday. The trust fund earns interest compounded annually. The trust stipulates that Janice cannot access the funds until her th birthday, and on that day the balance in the trust was $
The amount of money that Janice's relative originally put into the trust fund is:
to nearest $
When Janice turned she decided not to touch the trust, and instead use it to save for her future children's higher education. Assuming the account continues to earn the same rate of return, what will be her account balance years later ie when she turns years old
to nearest $
Instead of the balance that you calculated for # assume Janice's trust fund balance on her the account have earned between her th & th birthdays? The account balance was still $ at age
to nearest
Suppose instead of waiting until her th birthday, Janice decides to leave her trust fund untouched until it has a balance of $ Assuming she continues to earn how many years after her th birthday will she have to wait to achieve this account balance?
to nearest year
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