On his thirteenth birthday, a boy inherits $13,000 which is to be used for his college education. The money is deposited into a trust fund that will pay him R dollars on his 18th, 19th, 20th, and 21st birthdays. Find R if the money earns 8% interest compounded annually The money deposited will pay the boy $on his 18th, 19th, 20th and 21st birthdays (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

On his thirteenth birthday, a boy inherits $13,000 which is to be used for his college education. The money is deposited into a trust fund that will pay him R dollars on his 18th, 19th, 20th, and 21st birthdays. Find R if the money earns 8% interest compounded annually The money deposited will pay the boy $on his 18th, 19th, 20th and 21st birthdays (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter19: Family Tax Planning

Section: Chapter Questions

Problem 27P

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