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Discuss the problem related to trust fund

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Reference no: EM131556597

Question: TRUST FUNDS Carl is the beneficiary of a $20,000 trust fund set up for him by his grandparents. Under the terms of the trust, he is to receive the money over a 5-yr period in equal installments at the end of each year. If the fund earns interest at the rate of 9%/year compounded annually, what amount will he receive each year?

Reference no: EM131556597

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