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You wish to establish a trust fund from which your niece can withdraw $2,000 every six months for 15 years, at the end of which
You wish to establish a trust fund from which your niece can withdraw $2,000 every six months for 15 years, at the end of which time she will receive the remaining money in the trust, which you would like to be $10,000. The trust will be invested at 8% per annum compounded semiannually. How large should the trust be?
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