Answered: What is the current value of your trust…

Engineering

Mechanical Engineering

What is the current value of your trust fund?

Refrigeration and Air Conditioning Technology (MindTap Course List)

8th Edition

ISBN:9781305578296

Author:John Tomczyk, Eugene Silberstein, Bill Whitman, Bill Johnson

Publisher:John Tomczyk, Eugene Silberstein, Bill Whitman, Bill Johnson

Chapter2: Matter And Energy

Section: Chapter Questions

Problem 21RQ

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Question

Annuity: Problem 8

A trust fund will pay you P5000 per month for life once you turn 18. You are currently 10. Interest rates are expected to be 6.0% compounded quarterly. What is the current value of your trust fund?

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