Answered: When will the girl receive the money…

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When will the girl receive the money if the fund is invested at 8% compounded quarterly?

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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Concept explainers

Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.

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By the conditions of a will, the sum of Php 25,000.00 is left to a girl to be held in a trust fund by the guardian until it amount to Php 45,000.00. When will the girl receive the money if the fund is invested at 8% compounded quarterly?

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